Alleged $1m Theft: How P-Square Ex-Manager’s Wife Owns 800,000 Shares in Northside Music Limited, Witness Tells Court

The trial of Jude Chigozie Okoye, elder brother and former manager of music duo Paul and Peter Okoye of P-Square, continued on Friday at the Lagos State High Court in Ikeja, with testimony alleging that his wife owns 800,000 shares in Northside Music Limited.

Okoye and his company, Northside Music Limited, are standing trial on a four-count charge brought by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission over alleged theft exceeding $1 million. He has pleaded not guilty to the charges.

At the resumed hearing before Justice Rahman Oshodi, the first prosecution witness, Peter Obumuneme Okoye, told the court that the defendant’s wife holds 800,000 shares in the company at the centre of the case. He maintained this position under cross-examination by defence counsel, Clement Onwuenwunor (SAN).

When presented with bank statements linked to Northside Music Limited, the witness insisted that the accounts were joint business accounts belonging to him and his twin brother, Paul Okoye. He told the court that P-Square jointly owns the company and that it was registered on their behalf.

“These statements of account belong to me and my brother. We are P-Square. The company belongs to Peter and Paul. It was registered by him,” the witness said.

Peter Okoye further testified that he petitioned the EFCC after discovering what he described as the diversion of company funds. According to him, investigations revealed another entity, Northside Entertainment Company, which he alleged was used to divert funds belonging to their joint entertainment business.

“My lord, we own an entertainment company together, and I discovered another company diverting our funds. I showed it to my brother,” he added.

The witness confirmed that he submitted a petition to the EFCC through his lawyer and later wrote a formal statement with the commission. He again stated that the defendant’s wife owns 800,000 shares in Northside Music Limited.

During the proceedings, the defence attempted to tender documents said to have been attached to the original petition submitted to the EFCC. However, prosecution counsel, M. K. Bashir, objected, arguing that the documents were public records that did not meet the legal requirements for admissibility.

Bashir told the court that the defence only produced copies stamped as Certified True Copies, adding that the documents were neither properly attached to the petition nor presented in the required legal form. He urged the court to reject them.

In a brief ruling, Justice Oshodi upheld the objection, noting that although the documents originated from the Corporate Affairs Commission and were later kept in EFCC custody, they did not satisfy the conditions for admissibility. The court accordingly rejected the documents.

Justice Oshodi adjourned the matter to February 20 and 27, 2026, for continuation of the trial.

The case arises from a long-standing dispute among the Okoye brothers following the breakup of P-Square in 2017 and subsequent reconciliation efforts. Jude Okoye had managed the group’s business affairs for years and oversaw Northside Music Limited, a label that previously managed artistes including Cynthia Morgan.

Disagreements reportedly persisted over revenue sharing, ownership of business assets, and corporate structures. Peter Okoye has accused Jude of using affiliated companies to divert funds belonging to their joint ventures, allegations that led to the EFCC investigation and the charges now before the court.