Peter Okoye co-signatory admission in Lagos court contradicts earlier claim as Jude Okoye faces EFCC trial over alleged $1m theft

Popular musician Peter Okoye on Friday admitted before a Lagos High Court sitting in Ikeja that he is a co-signatory to the Northside Entertainment Limited bank account, contradicting his earlier testimony that his elder brother, Jude Okoye, was the sole signatory.

Also read: Waje reveals she was unpaid for P-Square’s ‘Do Me’

The admission came during the resumed hearing of Jude Okoye’s trial by the Economic and Financial Crimes Commission over an alleged $1 million theft.

Under cross-examination by defence counsel Clement Onwuewunor, SAN, Peter Okoye was confronted with bank mandates indicating that he and his twin brother were signatories to the company’s account, contrary to his earlier assertion that he was merely a shareholder.

“My Lord, Northside Entertainment Limited account in Ecobank — I am a co-signatory,” the singer told the court.

The Peter Okoye co-signatory admission marked a significant shift in the narrative presented at the outset of the proceedings. He had previously maintained that Jude Okoye alone controlled the company’s financial operations.

Attempting to clarify his earlier statement, Peter Okoye explained that while Jude Okoye initially operated the account solely, he and his twin brother were later added as signatories.

He insisted, however, that he never personally signed cheques or conducted transactions on the account.

Earlier in his testimony, Peter Okoye reaffirmed that the music catalogue of the former duo P-Square belonged exclusively to him and his twin brother.

He described the catalogue as comprising nearly 100 songs released across six albums.

The witness also stated that Jude Okoye was not an original member of the group but later assumed managerial responsibilities around 2004 or 2005, albeit without a written contract.

He rejected suggestions by the defence that Jude Okoye played a more substantive role behind the scenes than the performers themselves.

According to Peter Okoye, the brothers registered corporate entities to manage their music business, including Northside Entertainment Limited as a management outfit and Square Records Limited as a record label.

He acknowledged that Jude Okoye held approximately 40 per cent shares in Northside Entertainment Limited, while he held about 30 per cent, though he said he was not entirely certain of the exact distribution.

Peter Okoye further identified Mad Solutions as one of the organisations responsible for collecting and distributing royalties from P-Square’s songs within Nigeria, noting that royalties due to him were paid directly into his personal account.

During the proceedings, the defence also presented a royalty distribution contract and asked the witness to confirm whether the signature on the document was his.