The legal battle surrounding royalty payments and company finances at Northside Music Limited took a dramatic turn on Wednesday, as Senior Advocate of Nigeria (SAN), Clement Onwuenwunor, accused Peter Okoye of P-Square of making false claims in his official statement to the Economic and Financial Crimes Commission (EFCC).
The claims came during a cross-examination at the Federal High Court in Ikoyi, presided over by Justice Alexander Owoeye, where the defence counsel alleged that Okoye intentionally misled investigators on matters relating to his educational background, access to company accounts, and royalty entitlements.
“Mr. P, on page A5 of your EFCC statement, you claimed to be a graduate. That is untrue. You dropped out at 100 level,” Onwuenwunor asserted.
Peter responded, “I went to UNIABUJA, but that’s not why I’m here. I dropped out at 300 level and took a transcript to UST, Port Harcourt.” Yet, when asked for proof of graduation, he admitted he had no certificate.
Court Tension and Judicial Reprimand
Peter Okoye’s combative responses and contradictions prompted Justice Owoeye to caution him for courtroom misconduct and disrespect toward the defence counsel. His legal representative, M.K. Bashir, had to step in repeatedly to manage his client’s temperament.
Ownership Structure Disputed
A major twist in the proceedings came when Peter testified that Jude Okoye’s wife, Ifeoma, owned 80% of Northside Music Limited, with Jude holding 20%. However, a Corporate Affairs Commission (CAC) certificate presented in court disproved the claim, confirming that Jude Okoye holds 80% and his wife 20%.
When shown the document, Peter admitted to providing false testimony under oath.
Access to Bank Accounts and Royalty Denials Exposed
In his EFCC statement, Peter claimed to have no access to company accounts and stated that Jude was the sole signatory. But the defence presented signed account mandates showing that Peter and his twin brother, Paul Okoye, were Category B signatories, confirming direct access.
The defence also produced Ecobank statements (Exhibit P) detailing regular royalty payments from Lex Records via Mad Solutions Limited, the firm managing P-Square’s music catalogue. These payments were made to Northside Entertainment’s account from 2012 to 2017.
Despite Peter’s prior denial of any knowledge or receipt of these royalties, the records revealed he had been receiving proceeds all along.
“This proves you had access to the accounts and benefitted from the royalties,” Onwuenwunor said.
Defence Alleges Intentional Misrepresentation
The defence concluded that Peter’s inconsistent testimony was part of a deliberate attempt to mislead both the EFCC and the court, further complicating the high-profile fraud case.
Justice Owoeye adjourned the case to October 23 and November 10, 2025, for the continuation of cross-examination and trial proceedings.
