Alleged N1.8b Fraud:
Peter Okoye Finally Speaks, Says 20 Years
Silence Nearly Ruined Him
Nigerian music star, Peter Okoye, also known as Mr P, has spoken again about the alleged betrayal and financial misappropriation by his elder brother and former manager, Jude Okoye, saying it took him over two decades to speak up — and the delay nearly cost him everything.
Just hours after testifying before the Federal High Court in Lagos on Monday, Mr P, in an X statement, shared a deeply personal post about enduring years of silence under the guise of family loyalty.
“Don’t let ‘family’ be the reason you’re drowning in silence. I did — for over 20 years plus. And it almost cost me everything,” Peter wrote. “But now I know better — love doesn’t manipulate, loyalty doesn’t betray, and family does not steal from you. Family that steals and breaks you isn’t family at all.”
The 43-year-old singer continued, “A real family doesn’t drain you, shame you, discriminate against you, or ignore your pain. My sanity matters. My mental health is a priority. If it costs my mental health, then it’s too expensive.”
On Monday, at the Federal High Court in Lagos, Peter alleged that Jude had covertly registered Northside Music Limited to collect and control digital royalties from their group, P-Square, without the knowledge or consent of its members.
Peter, appearing before Justice Alexander Owoeye, said he only discovered the company while investigating royalty discrepancies years after the group’s initial split in 2017. He revealed that the company was registered under Jude’s name and his wife’s — with her holding 80% ownership.
“All our earnings from P-Square were funnelled into accounts controlled solely by Jude,” Peter claimed. “From 2017 to 2021, when we were apart, I had no access to anything. Jude was the only signatory,” he added.
The singer further alleged that backend royalty data had been manipulated, significantly reducing the value of their catalogue. “What used to bring in $8,000 per month was now reduced to about $500. When I asked for financial records, I was told my money was with people in South Africa,” he stated.
According to him, this lack of transparency cost them not just revenue but also business opportunities. “I wasn’t even asking for the money — just access to our data,” Peter explained.
Suspicious of foul play, he consulted lawyer Festus Keyamo, SAN (now Aviation Minister), who suggested a revenue-sharing formula. When that failed, he hired another lawyer, Mr Afolabi, and submitted a petition to the Economic and Financial Crimes Commission (EFCC).
One of the charges levelled against Jude and Northside Music Ltd. is the alleged purchase of an Ikoyi property worth ₦850 million, using funds suspected to be proceeds of crime — a violation of the Money Laundering (Prevention and Prohibition) Act, 2022.
Another charge accuses Jude of converting over $1 million through a Bureau De Change, allegedly using Nigerian bank accounts to conceal the origin of the funds. The EFCC claims that Jude’s actions show a pattern of deliberate financial concealment. He has pleaded not guilty to all seven charges.
Peter said he discovered more “red flags” when potential buyers expressed interest in acquiring P-Square’s music catalogue in 2022. The resulting checks revealed tampered backend data, previously hidden transactions, and dual aggregator connections — both for P-Square and Jude’s company.
Jude’s legal troubles began after his younger brother, Peter, filed a petition with the EFCC accusing him of mismanaging digital royalties from their former music group, P-Square.
On 26 February, the EFCC alleged that Jude had dishonestly converted funds meant for Peter, including large sums in dollars and pounds from companies like Lex Records Limited, Kobalt Music, and Mtech Limited. These payments were said to be royalties earned from P-Square’s digital music catalogue.
Jude is now standing trial alongside his company, Northside Music Limited, on a seven-count charge of money laundering. One of the charges alleges that in 2022, he and his company used money suspected to be from illegal sources to purchase a luxury property in Ikoyi, Lagos, worth ₦850 million. The charge states that Jude “did directly acquire a landed property known as No 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos… which money you knew or reasonably ought to have known forms part of proceeds of unlawful act.”
Another charge accuses him of converting $1,019,762.87 through a Bureau De Change and transferring the funds into several Nigerian bank accounts in an effort to hide their true origin. According to the EFCC, this was done “with the aim of disguising or concealing the illicit origin of the funds.”
The EFCC maintains that these actions violate the Money Laundering (Prevention and Prohibition) Act, 2022. Jude has denied all allegations and pleaded not guilty.
The long-running conflict between the Okoye brothers became public again in August 2024 when Paul Okoye, also known as Rudeboy, confirmed that P-Square had split permanently. The group, which began in 1999 and dominated the Nigerian pop scene for over a decade, first parted ways in 2017 before briefly reuniting in 2021. However, that reconciliation was short-lived due to ongoing disputes over royalties and digital rights.
