The Economic and Financial Crimes Commission (EFCC) recently addressed a Lagos High Court in Ikeja. They stated a lack of documentary or forensic evidence. This evidence was requested to support claims against Jude Okoye and his brother, Paul. The allegations involved the fraudulent withdrawal of $800,000. This sum reportedly belonged to the former music group, P-Square.
These allegations originated from a 2024 petition. Peter Okoye filed it. He accused Jude and Paul Okoye of diverting funds. He also claimed they secretly operated 47 undisclosed bank accounts. Furthermore, Peter alleged manipulation of Northside Entertainment Ltd.’s shareholding structure.
EFCC Confirms Lack of Proof in Court
During cross-examination, EFCC counsel M.K. Bashir spoke. He informed Justice Rahman Oshodi that the commission had no proof. This proof was for the alleged $800,000 withdrawal.
The court pressed Bashir to substantiate the claim. Bashir responded directly. “We do not have it,” he stated. “It is his evidence. Let him prove it. I cannot give what I do not have.”
Bashir also denied holding proof of the alleged 47 bank accounts. He explained, “It is one of the witness’s claims. But I do not have such a copy.”
Peter Okoye’s Shifting Claims
Peter Okoye had previously testified on May 23, 2025. He claimed to possess fresh evidence. This evidence allegedly showed Jude and Paul withdrew and shared over $800,000. He initially stated this occurred between March 2023 and October 2024.
However, defence counsel Clement Onwuenwunor, SAN, challenged these discrepancies. Peter then revised his timeline. He claimed the withdrawal happened between 2013 and 2014 instead.
Onwuenwunor urged the court to order Peter and the EFCC. He requested them to produce evidence of the 47 accounts. The judge, however, struck down this request. Justice Oshodi ruled that the defence must file a formal motion. This was because the documents were not part of the court record or admitted evidence.
Dispute Over Northside Entertainment Stake
The defence also challenged Peter’s assertion. Peter claimed Jude owned an 80% stake in Northside Entertainment. Peter insisted he had evidence for this claim. Yet, the defence counter-tendered Corporate Affairs Commission (CAC) extracts. These official records contradicted Peter’s assertion.
Peter told the court he only learned of Northside Entertainment in 2024. This was when singer Cynthia Morgan shared her artist contract. The contract, received via Jude, bore the company’s letterhead.
He further clarified that Cynthia signed under Northside Music. Her albums were later credited to Northside Inc and Northside Inc. (US operations). This included releases catalogued under both Inc and Inc US branches.
Justice Oshodi adjourned the case. The next hearing is scheduled for December 12, 2025. This date is for the continuation of trial proceedings. Arguments for final document production will also take place.
About the Author
