The former P-Square group manager Jude Okoye faced trial for money laundering charges totaling N1.38 billion, $1 million, and £34,537.59 at a Federal High Court in Lagos when his brother Peter Okoye testified as a witness yesterday. Together with his company Northside Music Limited he faces a seven-count charge before the court.
Jude faces trial in Justice Alexander Owoeye’s Court through the Economic and Financial Crimes Commission (EFCC). The court tries Jude based on the letter Peter submitted to the commission.
During testimony by the prosecutor Aso Larry Peter described how his brother Jude formed a new company to receive their royalties as presented to Lagos, Federal High Court.
According to him the group P-square split up temporarily during 2017. My time apart from my brother Jude lasted almost five complete years. The music group P-square made their comeback during November 2021.
“P-Square started in 1997-98. The company underwent multiple management changes until Jude Omojuwa took charge following Chioma Ugochi and the several other managers before her. She ran our management during both our secondary education and university years. We received management from both Jude and his brother throughout a period of five years together with the late Bayo Odusami. Following our self-management period we both thought Jude would be best to handle our career and manage Northside Entertainment Ltd.
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The operation of our business proceeded without interruption but soon we encountered management problems from his style of operation. He faced all the control issues because he was the one and only authorized party for our bank accounts at Ecobank, Zenith and FCMB.
The company experienced that situation until Mr. Festus Keyamo who is now Aviation Minister introduced a distribution arrangement. In our house construction phase at Ikoyi residents could obtain funds only through the signature of the defendant. The company Northwest Entertainment Ltd served as financial controller for the house project but suspended all funding operations for half a year.
My return after half a year prompted me to question the defendant as well as my brother Paul about the sudden project stoppage. ‘You take money with P-square but when you depart from the group you lose access to financing’ were their words. That unfavorable remark led me to meet with our legal representation Keyamo.
These events occurred after Jude left the management position to discover Northside Music Limited operating in 2022 when he attempted to gain backend access for statement of account inquiries but the defendant barred his access request.
The court heard from Peter how his conversation with the defendant revealed that suspicious activities were transpiring at the time. During the meeting Peter acquired unsatisfactory responses from Eco Bank and Zenith Bank accounts officers before learning from the Zenith account officer that Jude ordered him not to share the information with Peter.
Peter testified that Jude along with his twin Paul transferred the album to Mad Solution after three months of signature which provided them with more than $22,000.
He also told the court how he went to the Corporate Affairs Commission (CAC) site, where he discovered that the Director of Northside Music was Jude Okoye and his wife, adding that he also discovered that Jude’s wife owns 80 per cent while Jude owned 20 per cent.
