Justice A. Owoeye of the Federal High Court in Ikoyi, Lagos, on Wednesday, June 4, 2025, adjourned further hearing in the ongoing ₦1.38 billion fraud case involving Jude Chigozie Okoye, elder brother and former manager of music duo Paul and Peter Okoye (formerly known as P-Square), to October 23, 2025.
Naijaonpoint reports that Okoye is being prosecuted by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), alongside his company, Northside Music Limited, on a seven-count charge bordering on money laundering.
One of the charges reads: “That you, Jude Okoye Chigozie and Northside Music Limited, sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No. 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, worth ₦850,000,000.00 (Eight Hundred and Fifty Million Naira only), which money you knew or reasonably ought to have known formed part of the proceeds of unlawful act and thereby committed an offence contrary to Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Okoye pleaded not guilty to all charges when he was arraigned on February 26, 2025.
At the resumed hearing on Wednesday, the first prosecution witness (PW1), Peter Obumuneme Okoye, during cross-examination by the defence counsel, Clement Onwuewunor (SAN), denied having any financial control during his time with Northside Entertainment.
“I never signed any cheque and had no access to the accounts while still signed to Northside Entertainment,” he told the court.
Peter Okoye also stated that although he received payments from the company’s Ecobank account, they were not royalties.
According to him, the account was used to receive funds from various sources, including endorsements and performances.
He further testified that he only became aware of the existence of Northside Music Limited in late 2022 and insisted he never received any proceeds from Lex Records throughout his tenure with the company.
Following the testimony, Justice Owoeye adjourned the case to October 23 and November 10, 2025, for the continuation of trial.