By Esi-ife Arogundade
The trial of Jude Okoye, former manager of the iconic music duo Psquare, commenced today at the Federal High Court in Lagos, where his younger brother, Peter Obumuneme Okoye, testified against him in a case involving alleged money laundering amounting to ₦1.38 billion, $1 million, and £34,537.59.
Jude Okoye, alongside his company Northside Music Limited, faces a seven-count charge brought by the Economic and Financial Crimes Commission (EFCC), presided over by Justice Alexander Owoeye.
This trial follows a petition lodged with the commission by Peter Okoye. In his testimony, Peter detailed the complexities of their relationship and the management of Psquare. He described how the group disbanded in 2017 and remained apart for over five years, reuniting in November 2021.
During this time, he expressed concerns regarding Jude’s management practices, particularly his control over the group’s finances. “I have issues with how he’s the sole signatory to all our bank accounts,” Peter stated.
He explained that financial access was limited for himself and his twin brother, Paul, leading to significant tension. “Whenever we had issues for months, I didn’t have access to money,” he added.
The court heard about a specific incident related to their house construction projects, where Jude allegedly halted financing for Peter’s house for six months. “I was told ‘as you leave Psquare, you leave the money,’”
Peter recounted, highlighting the difficulties he faced in gaining access to funds for his own project. Peter also revealed his concerns about Jude’s actions under Northside Music Limited.
He claimed that he discovered discrepancies regarding their albums’ financial statements, which hindered their ability to track revenue generated from their music. Jude Okoye has denied all allegations of wrongdoing and pleaded not guilty to the charges.
Further hearing of the matter has been adjourned to June 4, 2025, for cross-examination.
