The Lagos State Special Crimes Court, Ikeja, presided over by Justice Rahman Oshodi, has been informed by the Economic and Financial Crimes Commission (EFCC) that it has no evidence to support the allegation that Jude and Paul Okoye, members of the defunct P-Square group, fraudulently withdrew $800,000 from the group’s finances.
It would be recalled that Peter Okoye, in his petition before the Commission in 2024, accused Jude, then manager of the group, of operating 47 undeclared bank accounts, manipulating the shareholding structure of Northside Entertainment Ltd, the company jointly owned by the brothers, and diverting income from P-Square.
This subsequently led the anti-graft agency to file charges against Jude based on elements of the petition.
However, during cross-examination at the resumption of hearing of the case on Friday, EFCC lawyer MK Bashir shocked the courtroom when Justice Oshodi asked him to present evidence of the alleged fraudulent withdrawal.
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Bashir responded that the Commission did not have such material. “We don’t have it. It’s your evidence. Let him prove it. I can’t give what I don’t have,” the EFCC lawyer said, distancing the Commission from Peter’s claim.
Peter had previously testified on May 23, 2025, alleging that new evidence showed that Jude and Paul withdrew and shared more than $800,000 between March 2023 and October 2024.
But under pressure from defense lawyer Clement Onwuenwunor (SAN), he amended his testimony and claimed that the transactions actually took place between 2013 and 2014.
The defense also disputed Peter’s claim that Jude operated 47 bank accounts linked to the group. While Peter insisted that the EFCC possessed evidence, Bashir denied it, saying the Commission had no records of such accounts.
Onwuenwunor urged the court to compel Peter and the EFCC to produce the documents, but Justice Oshodi ruled that a formal application must be made as the documents were not before the court nor admitted into evidence.
Peter’s claim that Jude owned 80 percent of Northside Entertainment also came under scrutiny after the defense presented records from the Corporate Affairs Commission that contradicted his position.
The court further examined Peter’s testimony that he was unaware of the existence of Northside Music and that Jude hired artist Cynthia Morgan without his knowledge. Peter said he didn’t realize until 2024, when the singer sent him her contract.
Justice Oshodi adjourned the matter to December 12, 2025 for continuation of trial.
Newslodge