EFCC Says It Has No Evidence Linking P-Square’s Jude and Paul Okoye to $800,000 Alleged Withdrawal
The Economic and Financial Crimes Commission (EFCC) has informed the Lagos State High Court, Ikeja, that it possesses no evidence to support allegations that Jude and Paul Okoye of P-Square fraudulently withdrew $800,000, contrary to claims made by their brother, Peter Okoye.
Peter had filed a petition with the EFCC in 2024, accusing Jude of mismanaging P-Square funds, maintaining 47 undeclared bank accounts, and manipulating the ownership structure of Northside Entertainment Ltd, a company they jointly control. Following the petition, the EFCC pressed charges against Jude over alleged financial misconduct.
During resumed cross-examination on Friday, EFCC counsel M.K. Bashir stated before Justice Rahman Oshodi that the commission could not substantiate the alleged withdrawal. “We do not have it. It is his evidence. Let him prove it. I can’t give what I don’t have,” Bashir said when asked to provide proof.
Peter had previously testified on May 23, 2025, claiming to have new evidence showing that Jude and Paul allegedly shared over $800,000 between March 2023 and October 2024. When confronted by defence counsel, Clement Onwuenwunor (SAN), about inconsistencies, Peter revised the timeline, asserting that the withdrawals occurred between 2013 and 2014.
The defence also questioned Peter’s claim that Jude operated 47 bank accounts, and Bashir clarified that the EFCC did not have copies of these accounts. Requests to compel the production of such documents were rejected by Justice Oshodi, who noted that the items were not part of the admitted evidence.
Further scrutiny by the defence challenged Peter’s assertions regarding Northside Entertainment’s ownership and his knowledge of the company’s operations, including the signing of artist Cynthia Morgan. Peter maintained that he only discovered Northside Music’s existence in 2024. CAC records tendered by the defence contradicted his claims regarding Jude’s majority ownership.
Justice Oshodi adjourned the trial to December 12, 2025, for its continuation.
