On Friday, popular musician Peter Okoye acknowledged in front of the Lagos State Special Offences Court in Ikeja, under the authority of Justice Rahman Oshodi, that he is a co-signatory to the bank account of Northside Entertainment Limited. This statement contradicted his previous claim that his elder brother, Jude Okoye, was the only signatory.
This admission occurred during the continuation of Jude’s trial by the Economic and Financial Crimes Commission (EFCC) regarding an alleged theft of $1 million. Peter had earlier insisted that Jude was solely responsible for managing the company’s finances and accounts.
However, during cross-examination, defense attorney Clement Onwuewunor, SAN, presented bank mandate documents showing that both Peter and his twin brother were also signatories to the account.
When faced with this inconsistency, the singer initially attributed his earlier statement to a phone call with officials from what he referred to as a new bank. Yet, when specifically questioned about the company’s account with Ecobank Nigeria, he admitted his involvement.
"My Lord, I am a co-signatory to the Northside Entertainment Limited account in Ecobank," he stated in court.
Peter further explained that Jude initially managed the account alone before he and his twin brother were added as signatories years later. He also mentioned that despite being a signatory, he had never personally signed cheques or carried out transactions on the account.
During the court proceedings, Peter reiterated that the music catalogue of the now-defunct group, P-Square, belonged solely to him and his twin brother, asserting that Jude was not part of the original group but later took on the role of their manager around 2004 or 2005.
He admitted that there was no written contract formalizing Jude’s appointment. His testimony implied that Jude had a more significant role in the group’s success than the artists themselves, emphasizing that the duo built their career independently from their student days before hiring multiple managers, including their elder brother.
Peter also confirmed that the brothers set up companies to manage their music business, including Northside Entertainment Limited as a management company and Square Records Limited as a record label, making him and his twin brother part-owners of these businesses.
Regarding the shareholding structure, he informed the court that Jude owned about 40 percent of the shares in Northside Entertainment Limited, while he held approximately 30 percent, although he admitted he was unsure of the exact numbers.
He identified Mad Solutions as one of the entities responsible for collecting and distributing royalties from P-Square’s songs in Nigeria, stating that his royalties were deposited directly into his personal account.
"They pay me my share in my personal account as Peter Okoye," he remarked, adding that he could not comment on how payments owed to others were managed.
At another point, the defense presented a royalty distribution contract and asked him to verify if the signature was his. Peter replied that it looked like his signature but requested additional time to review the document more thoroughly.
The case has been adjourned until May 15 and 22, 2026, for further hearings.
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