BREAKING: Peter Okoye testifies in court against elder brother Jude over alleged N1.38bn, $1m diversion

Jude Okoye and his company, Northside Music Ltd., have been charged with seven counts of allegedly laundering N1.38 billion, $1 million, and £34,537.59.

When the trial over alleged money laundering came up for hearing on Monday, Peter said that he started noticing that Jude was mismanaging and diverting funds meant for the group in 1997/1998.

Peter also told the Federal High Court presided over by Justice Alexander Owoeye that before Jude became their manager, they had others, including Chioma Ugochi and the late Howie-T. But when Jude came on board, things changed.

He testified, saying, “P Square started in 1997/98. Before Jude became our manager, we had others, including Chioma Ugochi and the late Howie-T. But when Jude came on board, things changed. He was the sole signatory to all our accounts—Ecobank, Zenith, and FCMB.

In addition to recalling a particularly annoying incident that occurred during the construction of his home in Ikoyi, Peter noted that this arrangement resulted in regular conflicts that prevented him from accessing funds.

Peter said; “There were months I couldn’t access money. It was so bad that I had to go through our lawyer, Festus Keyamo, to create a sharing formula.”

“The house project was financed by Northwest Entertainment Ltd, but for six months, they stopped funding mine. When I asked why, I was told, ‘As you leave P-Square, you leave the money.’ That was when I knew something wasn’t right.”