The first prosecution witness, Peter Okoye, has told the Lagos State High Court in Ikeja that the wife of his elder brother, Jude Okoye, owns 800,000 shares in Northside Music Limited, the company at the centre of a $1 million theft charge.
Jude, who previously managed the P-Square duo of Peter and Paul Okoye, is facing trial alongside Northside Music Limited on four counts of alleged fund diversion. He pleaded not guilty.
During Friday’s hearing, defence counsel Clement Onwuenwunor (SAN) presented bank statements linked to Northside Music Limited and pressed the witness to clarify the transactions. But Peter insisted the accounts represented joint business interests of the P-Square brothers.
“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,” he told the court.
He added that he alerted the EFCC after discovering funds were being channelled through a separate outfit, Northside Entertainment Company. “I reported to the EFCC when I discovered funds were being diverted,” he said.
Peter also confirmed he petitioned the EFCC through his lawyer, and that Jude’s wife holds 800,000 shares in the disputed company.
The defence sought to tender documents linked to the original EFCC petition, but prosecution counsel M.K. Bashir objected, arguing the documents were not in proper legal form despite being stamped as Certified True Copies. Justice Rahman Oshodi agreed, ruling that the documents did not meet admissibility standards.
“I reject the documents and mark them as rejected,” he ruled.
Peter further confirmed he wrote a statement at the EFCC after the petition was filed.
The trial is set to continue on 20 and 27 February 2026.
