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Alleged N1.8b Fraud: Staying Silent For 20 Years Nearly Cost Me Everything — Peter Okoye
Nigerian music star, Peter Okoye, also known as Mr P, has spoken again about the alleged betrayal and financial misappropriation by his elder brother and former manager, Jude Okoye, saying it took him over two decades to speak up — and the delay nearly cost him everything.
Just hours after testifying before the Federal High Court in Lagos on Monday, Mr P, in an X statement, shared a deeply personal post about enduring years of silence under the guise of family loyalty.
“Don’t let ‘family’ be the reason you’re drowning in silence. I did — for over 20 years plus. And it almost cost me everything,” Peter wrote. “But now I know better — love doesn’t manipulate, loyalty doesn’t betray, and family does not steal from you. Family that steals and breaks you isn’t family at all.”
The 43-year-old singer continued, “A real family doesn’t drain you, shame you, discriminate against you, or ignore your pain. My sanity matters. My mental health is a priority. If it costs my mental health, then it’s too expensive.”
Jude, Peter, and Paul Okoye
On Monday, at the Federal High Court in Lagos, Peter alleged that Jude had covertly registered Northside Music Limited to collect and control digital royalties from their group, P-Square, without the knowledge or consent of its members.
Peter, appearing before Justice Alexander Owoeye, said he only discovered the company while investigating royalty discrepancies years after the group’s initial split in 2017. He revealed that the company was registered under Jude’s name and his wife’s — with her holding 80% ownership.
“All our earnings from P-Square were funnelled into accounts controlled solely by Jude,” Peter claimed. “From 2017 to 2021, when we were apart, I had no access to anything. Jude was the only signatory,” he added.
The singer further alleged that backend royalty data had been manipulated, significantly reducing the value of their catalogue. “What used to bring in $8,000 per month was now reduced to about $500. When I asked for financial records, I was told my money was with people in South Africa,” he stated.
According to him, this lack of transparency cost them not just revenue but also business opportunities. “I wasn’t even asking for the money — just access to our data,” Peter explained.
Suspicious of foul play, he consulted lawyer Festus Keyamo, SAN (now Aviation Minister), who suggested a revenue-sharing formula. When that failed, he hired another lawyer, Mr Afolabi, and submitted a petition to the Economic and Financial Crimes Commission (EFCC).
One of the charges levelled against Jude and Northside Music Ltd. is the alleged purchase of an Ikoyi property worth ₦850 million, using funds suspected to be proceeds of crime — a violation of the Money Laundering (Prevention and Prohibition) Act, 2022.
Another charge accuses Jude of converting over $1 million through a Bureau De Change, allegedly using Nigerian bank accounts to conceal the origin of the funds. The EFCC claims that Jude’s actions show a pattern of deliberate financial concealment. He has pleaded not guilty to all seven charges.
Peter said he discovered more “red flags” when potential buyers expressed interest in acquiring P-Square’s music catalogue in 2022. The resulting checks revealed tampered backend data, previously hidden transactions, and dual aggregator connections — both for P-Square and Jude’s company.
Peter is expected to be cross-examined when the trial continues on 4 June.
Background
Jude’s legal troubles began after his younger brother, Peter, filed a petition with the EFCC accusing him of mismanaging digital royalties from their former music group, P-Square.
On 26 February, the EFCC alleged that Jude had dishonestly converted funds meant for Peter, including large sums in dollars and pounds from companies like Lex Records Limited, Kobalt Music, and Mtech Limited. These payments were said to be royalties earned from P-Square’s digital music catalogue.
Jude is now standing trial alongside his company, Northside Music Limited, on a seven-count charge of money laundering. One of the charges alleges that in 2022, he and his company used money suspected to be from illegal sources to purchase a luxury property in Ikoyi, Lagos, worth ₦850 million. The charge states that Jude “did directly acquire a landed property known as No 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos… which money you knew or reasonably ought to have known forms part of proceeds of unlawful act.”
Another charge accuses him of converting $1,019,762.87 through a Bureau De Change and transferring the funds into several Nigerian bank accounts in an effort to hide their true origin. According to the EFCC, this was done “with the aim of disguising or concealing the illicit origin of the funds.”
The EFCC maintains that these actions violate the Money Laundering (Prevention and Prohibition) Act, 2022. Jude has denied all allegations and pleaded not guilty.
The long-running conflict between the Okoye brothers became public again in August 2024 when Paul Okoye, also known as Rudeboy, confirmed that P-Square had split permanently. The group, which began in 1999 and dominated the Nigerian pop scene for over a decade, first parted ways in 2017 before briefly reuniting in 2021. However, that reconciliation was short-lived due to ongoing disputes over royalties and digital rights.
The Federal Government has formally ratified and adopted a road map for the Nigerian Electricity Supply Industry (NESI) by approving the National Integrated Electricity Policy( NIEP).
The policy which had been ready since December 2024 and submitted to President Bola Ahmed Tinubu was ratified on Monday at the weekly Federal Executive Council (FEC) meeting.
The policy is a comprehensive framework designed to transform Nigeria’s electricity sector in alignment with National development objectives and international best practices as mandated by Section 3(3) of the revised Electricity Act 2023.
According to a statement by Bolaji Tunji, Special Adviser, Strategic Communications and Media Relations, quoting the Minister of Power, Chief Adebayo Adelabu, the policy implementation has already started and will now gain momentum with the President’s approval while the impact would soon be felt adding that the Electricity Act 2023 requires the Federal Government through the Ministry of Power to initiate the process for the preparation and publication in the Federal Government ‘s gazette, an integrated National Electricity Policy and Strategic Implementation Plan, within one year of the commencement of the Electricity Act.
According to the Minister, “ the road map Policy addresses critical challenges in Nigeria’s electricity sector through comprehensive framework for sector transformation with clear guidelines for sustainable power generation, transmission distribution as well as integration of renewable energy sources, its promotion , energy efficiency and enhancement of sector governance”,.
He described the passage of the Electricity Act 2023 as a pivotal moment for the Electricity sector as it signals a transformative change which has laid the foundation for NESI, thus enabling exponential socio-economic growth.
“This National Integrated Electricity Policy and Strategic Implementation Plan (NIEP) is a comprehensive roadmap developed to guide all stakeholders – the Federal and State Governments, market participants, investors, and indeed all Nigerians, through this transition”.
Adelabu said the preparation of the policy represents the collective efforts of the Ministry in collaboration with a wide cross-section of stakeholders across the public and private sectors at national and State levels, civil society organizations, academic institutions, captains of industry, donor partners, development institutions, private sector participants and consumer advocacy groups, to address the complex challenges faced by NESI, from infrastructure deficits, inadequate capital to regulatory inefficiencies.
“The NIEP is a very significant evolution from the National Electric Power Policy of 2001, which has been long overdue for replacement. The Policy outlines various initiatives to aid the growth and development of State Electricity Markets (SEMs). It fosters a decentralised but collaborative approach to energy management and resource planning. This policy is a living document that will evolve with the Industry’s needs and challenges. It underscores the importance of collaboration, innovation, and a steadfast commitment to consumer protection and engagement”.
The Policy is structured across eight chapters which comprehensively address the historical perspective of the Nigeria Electricity Sector, focus on key features of the Electricity Act 2023, Nigeria’s electricity Policy objectives, electricity market design, value chain analysis, stakeholders roles and responsibilities, climate change and low carbon economy initiatives, gender equality and social inclusion, local content development including research and development, commercial , legal and regulatory frameworks.
The Federal High Court in Lagos will on July 18 hear a suit by Sterling Bank and its subsidiaries challenging the House of Representatives’ authority to investigate the management of funds in the accounts of two of its customers – Dr. Innocent Usoro and Miden Systems Limited.
The plaintiffs – Sterling Bank, Sterling Financial Holdings Company Plc, and senior executives Yemi Odubiyi, Abubakar Suleiman, Lekan Olakunle, and Dele Faseemo – are seeking a perpetual injunction restraining the House and its Public Petitions Committee Chairman, Michael Etaba, from acting on a police report that alleged financial misconduct involving the customers’ accounts.
Also joined in the suit are Dr. Innocent Usoro, Miden Systems Limited, and the Inspector- General of Police.
Filed by human rights lawyer Femi Falana (SAN), the plaintiffs contend that the National Assembly lacks the constitutional power to conduct investigations into the bank’s internal dealings with its customers or revisit a consent judgment previously delivered by the Federal High Court in 2021.
Citing sections 88 and 89 of the 1999 Constitution, the plaintiffs pray that the court declare that the House cannot summon their executives or staff members, or take actions based on the findings of the police report, which they alleged, is being used to relitigate issues already settled by the court.
The defendants, through their counsel Rowland Uzoechi, claim the suit is a calculated attempt to obstruct justice and avoid scrutiny.
They argued that the questions raised by the plaintiffs are academic and hypothetical, insisting that the court lacks jurisdiction.
In a 40-paragraph counter-affidavit, Dr. Usoro (third defendant) alleged falsification of documents to suggest a $30 million loan transaction that never occurred.
According to him, the Inspector-General of Police’s January 2025 investigation report revealed suspicious inflows totalling over $122 million into Miden Systems’ accounts, with significant sums unaccounted for and withdrawn under questionable narrations.
Usoro contends that the court was deceived into granting the Mareva injunction.
The plaintiffs denied these claims and maintained that the accounts in question were lawfully managed under a commercial loan agreement linked to a 2010 Shell contract executed by Miden Systems Limited.
The outcome of the case, which touches on issues of constitutional law, banking oversight, and public accountability, could have significant implications for the powers of legislative oversight and the credibility of financial institutions in Nigeria.
A devastating tragedy struck Agyaragu community in Obi Local Government Area of Nasarawa State on Sunday, as five children suffocated to death inside an abandoned vehicle.
The victims, aged between 6 and 10 years, were reportedly playing in an old, disused car parked in an uninhabited residential compound when they became trapped and suffocated due to lack of ventilation.
Confirming the incident to our correspondent on Monday, the Publicity Secretary of the Migili Youth Association and a resident of the area, Samuel Akala, said the community was thrown into deep mourning and confusion following the heartbreaking discovery around 3:00 p.m. on Sunday.
According to Akala, some of the children died at the scene, while others were pronounced dead at Aroh Hospital, Agyaragu, where they were rushed for medical attention. The matter has since been reported to the police at the Duglu Trailer Park Division.
Spokesman of the Nasarawa State Police Command, SP Ramhan Nansel, also confirmed the tragedy in a statement issued on Monday, stating that a thorough investigation has been launched under the directive of the Commissioner of Police, CP Shetima Jauro Mohammed.
The statement read:
“On May 4, 2025, at about 5:30 p.m., one Mr. Ozimna Ogbor of Agyaragu reported that five children—Kamsi Onah (8), Somer Onah (6), Unice Udouchi (10), Nmasoma Nnaji (10), and Chioma Nnaji (8)—were found unconscious inside an abandoned vehicle in the compound of one Mr. Abu Agyeme. Officers rushed to the scene and evacuated the victims to Aroh Hospital, where they were confirmed dead by a doctor due to suspected suffocation.”
The police also recalled a similar incident in August 2019 in Keffi LGA, where two children died in the same manner. CP Mohammed has expressed deep sympathy to the bereaved families and promised a thorough investigation into the circumstances of the latest incident.
Meanwhile, parents, guardians, and vehicle owners have been urged to remain vigilant and ensure children do not have unsupervised access to parked or abandoned vehicles.