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In a surprising turn at the Lagos State High Court, Peter Okoye, famously known as Mr P of the defunct duo P-Square, admitted on Friday that he is a co-signatory to the bank accounts of Northside Entertainment Limited.
This testimony directly contradicted his earlier statements, in which he had insisted that his elder brother, Jude Okoye, maintained sole control over the company’s financial dealings.
The admission came during the ongoing trial of Jude Okoye, who faces charges brought by the Economic and Financial Crimes Commission (EFCC) regarding the alleged theft of $1 million.
The shift in testimony occurred during a rigorous cross-examination by defence counsel Clement Onwuewunor (SAN).
When confronted with official bank mandates from Ecobank, Peter acknowledged that while Jude may have operated the accounts alone at the company’s inception, both he and his twin brother, Paul, were later added as signatories.
Peter attempted to clarify the discrepancy by stating that, despite having his name on the account, he never personally signed cheques or executed transactions, maintaining that he had been under the impression he was merely a shareholder.
Beyond the financial dispute, Peter used his time on the stand to challenge the narrative of Jude’s role in the group’s legendary success.
He rejected the defence’s suggestion that the twins were merely the “public faces” of a brand built by Jude, testifying instead that P-Square was established by the brothers as students long before Jude joined as a manager around 2004.
Peter emphasised that Jude never had a formal employment contract and that the music catalogue—nearly 100 songs across six albums—belongs exclusively to the twins.
As the legal battle deepened, the court also touched upon the complex ownership structure of their business ventures.
Peter confirmed that Jude holds a 40% stake in Northside Entertainment, while he holds 30%, though he admitted he could not be certain of the exact figures.
With questions still swirling around royalty distributions and a contested signature on a distribution contract, Justice Rahman Oshodi adjourned the trial.
The proceedings are set to resume on May 15, 2026, as the court continues to untangle the bitter financial rift between the brothers.
