The Economic and Financial Crimes Commission has informed a Lagos High Court in Ikeja that it has no evidence to support the allegation that Jude and Paul Okoye of P-Square withdrew $800,000, contrary to the accusations made by their brother, Peter Okoye.
Peter had in 2024 submitted a petition to the EFCC, alleging that Jude and his twin brother Paul diverted funds belonging to the P-Square group, operated 47 undisclosed bank accounts, and manipulated the shareholding of Northside Entertainment Ltd, the company jointly owned by all three of them.
Following the petition, the EFCC filed charges against Jude concerning alleged financial misconduct in the management of the P-Square brand.
During a resumed cross-examination session, EFCC counsel M. K. Bashir told Justice Rahman Oshodi that the commission had no evidence to prove the alleged withdrawal.
When the judge requested that he verify Peter’s accusation, Bashir stated, “We do not have it. It is his evidence. Let him prove it. I can’t give what I don’t have.”
Peter had earlier testified on 23 May 2025 that he had obtained fresh evidence showing how Jude and Paul supposedly withdrew and shared more than $800,000 between March 2023 and October 2024.
However, when defence counsel, Clement Onwuenwunor, SAN, questioned him about inconsistencies in his claims, Peter altered his position, saying the alleged withdrawal actually took place between 2013 and 2014.
The defence also challenged Peter’s claim that Jude operated 47 bank accounts.
Peter insisted the EFCC held the proof, but Bashir refuted this, stating, “I do not have 47 bank accounts. It is one of the witness’s claims, but I do not have such a copy.”
Onwuenwunor requested that the court direct Peter and the EFCC to present the supposed 47 accounts.
Justice Oshodi declined the request, ruling that the defence must file a formal application since the documents were neither before the court nor included in the admitted evidence.
The defence also confronted Peter regarding his assertion that Jude owned 80 per cent of Northside Entertainment.
Although Peter maintained he had evidence, the defence presented records from the Corporate Affairs Commission, which contradicted his claim.
Peter was further questioned about his claim that he was unaware of the existence of Northside Music and that Jude signed artiste Cynthia Morgan without informing him.
He said he only became aware of the company in 2024 when Cynthia Morgan sent him her contract on Northside Entertainment letterhead, explaining that although the contract was with Northside Music, her albums were credited to Northside Inc.
Justice Oshodi postponed the proceedings to 12 December 2025 for continuation of the trial.
