EFCC disowns Peter Okoye’s $800k fraud claim against Jude, Paul

The high-profile financial dispute between members of thedefunct music group Psquare took a dramatic turn on Friday at the Lagos statespecial offences court in Ikeja. Addressing Rahman Oshodi, the judge, at the resumedcross-examination, Mohammed Bashir, the Economic and Financial CrimesCommission (EFCC) counsel, said the agency had no evidence to support Peter ‘MrP’ Okoye’s allegation that Jude and Paul ‘Rudeboy‘ Okoye, his brothers,fraudulently withdrew $800,000 from Psquare’s bank account. The case stems from a 2024 petition by Peter, who accusedJude, Psquare’s former manager, of financial misconduct concerning the brand. In the petition, Peter alleged that Jude diverted groupfunds, operated 47 undeclared bank accounts, and manipulated the shareholdingstructure of their jointly owned company Northside Entertainment Ltd. The allegations led the EFCC to file charges against Jude. “We do not have it. It is his evidence. Let him prove it. Ican’t give what I don’t have,” Bashir stated on Friday, effectively distancingthe prosecution from Peter’s $800,000 claim. Jude is standing trial alongside his company Northside MusicLtd for allegedly laundering N1.38 billion, $1 million, and £34,537.59. The EFCC had claimed that Jude converted payments from LexRecords Limited intended for digital music distribution, depriving Peter of hisshare. The trial has seen Peter take the stand as a witness. On May23, 2025, he testified that new evidence revealed that Jude and Paul hadwithdrawn and shared over $800,000 between March 2023 and October 2024. Under cross-examination by Clement Onwuenwunor, Jude’scounsel, Peter revised the timeline, stating the withdrawals occurred between2013 and 2014. Oshodi adjourned the case to December 12, 2025, for thecontinuation of the trial. The Okoye brothers first parted ways in 2017 after adisagreement on the role of Jude. In November 2021, they ended their five-yearfeud and held their first headline concert in December. Paul, however, confirmed that Psquare no longer exists inAugust 2024. He claimed his twin brother was behind his arrest by the EFCC.

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