The drama within the Okoye family deepened yesterday as popular Nigerian musician, Peter Okoye of the Psquare duo, took the witness stand in a Federal High Court sitting in Lagos to testify against his elder brother, Jude Okoye. Jude, who was the former manager of the Psquare music group, is facing serious allegations of money laundering involving N1.38 billion, $1 million, and £34,537.59.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Jude and his company, Northside Music Limited, on a seven-count charge before Justice Alexander Owoeye. Surprisingly, the case was triggered by a petition written by Peter himself.
One of the charges alleges that Jude and his company, in 2022, acquired a property in Parkview Estate, Ikoyi, Lagos, worth N850 million—believed to be proceeds from unlawful activities.
During the hearing, Peter, also known as Peter Obumuneme Okoye, recounted how his brother allegedly defrauded him while serving as their manager. According to Peter, the group Psquare was formed in the late 1990s and underwent several managerial changes before Jude eventually took over.
Peter explained that financial conflicts started surfacing when Jude became the sole signatory to all their company bank accounts—held in Ecobank, Zenith Bank, and FCMB. He alleged that he was often cut off from the group’s funds, including during a time when they were building homes in Ikoyi, and his own construction was left unfunded for six months.
Peter further told the court that their lawyer at the time, Festus Keyamo (now Minister of Aviation), advised that they needed a formal revenue-sharing formula.
However, attempts to gain financial transparency from Jude proved futile. In 2022, while trying to sell some of their music albums, Peter discovered that he had no access to the backend or earnings from their catalog. When he inquired again, Jude allegedly deflected, claiming Peter’s share was “with some people in South Africa.”
Despite multiple efforts to get clarity, including reaching out to their twin brother Paul, Peter said there was no helpful response, further deepening his suspicions. He said his inquiries with the banks also yielded no useful information, prompting him to escalate the matter to the EFCC.
Jude has pleaded not guilty to all charges, and the trial is ongoing.
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