P-Square Legal Battle Deepens as EFCC Tells Court It Lacks Evidence to Back Peter Okoye’s Allegations

P-Square Legal Battle Deepens as EFCC Tells Court It Lacks Evidence to Back Peter Okoye’s Allegations

The Economic and Financial Crimes Commission (EFCC) has informed the Lagos State High Court in Ikeja that it has no evidence to support the allegation by Peter Okoye that his brothers, Jude Okoye and Paul Okoye of P-Square, fraudulently withdrew $800,000 from the group’s funds.

Peter had petitioned the EFCC in 2024, accusing Jude and Paul of diverting P-Square group funds, manipulating the share structure of Northside Entertainment Ltd, and operating 47 undeclared bank accounts. The petition led to the filing of charges against Jude over alleged financial misconduct in managing the P-Square brand.

However, during resumed cross-examination, EFCC counsel M. K. Bashir told Justice Rahman Oshodi that the commission could not provide proof of the alleged $800,000 withdrawal. When pressed by the court to substantiate the claim, Bashir stated:
“We do not have it. It is his evidence. Let him prove it. I can’t give what I don’t have.”

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Peter had earlier testified on May 23, 2025, that he obtained fresh evidence showing how Jude and Paul withdrew and shared over $800,000 between March 2023 and October 2024. But when confronted by defence counsel Clement Onwuenwunor (SAN) with inconsistencies, he altered his timeline, claiming the withdrawal actually happened between 2013 and 2014.

The defence also challenged Peter’s claim that Jude maintained 47 bank accounts, but EFCC counsel Bashir again denied having any such evidence, saying the commission had no record of those accounts.

Onwuenwunor urged the court to compel Peter and the EFCC to produce the alleged 47 accounts. Justice Oshodi declined, ruling that a formal application was required since the documents were neither before the court nor admitted into evidence.

The defence further tackled Peter’s allegation that Jude owned 80% of Northside Entertainment, tendering CAC records contradicting his claims. Peter insisted he had proof and also told the court he did not know of the existence of Northside Music, alleging that Jude signed artist Cynthia Morgan without his knowledge.

He added that he only discovered Northside Music in 2024 when Cynthia Morgan sent him a contract on Northside Entertainment letterhead, noting that although the contract was with Northside Music, her album credits bore Northside Inc.

Justice Oshodi subsequently adjourned the case to December 12, 2025, for continuation of trial.

P-Square Legal Battle Deepens as EFCC Tells Court It Lacks Evidence to Back Peter Okoye’s Allegations