Economic and Financial Crimes Commission (EFCC) has distanced itself from Peter Okoye popularly known as Mr P’s claim that his brothers, Jude and Paul Okoye, fraudulently withdrew $800,000 from Psquare’s bank account.
Gatekeepers News reports that the development emerged on Friday at Lagos State Special Offences Court in Ikeja, where EFCC counsel Mohammed Bashir told Justice Rahman Oshodi during cross-examination that the commission could not confirm Peter’s allegation.
Peter had filed a petition in 2024 accusing Jude, the former manager of Psquare, of diverting group funds, running 47 undisclosed bank accounts, and altering the shareholding structure of their company, Northside Entertainment Ltd. These claims formed the basis of the charges brought against Jude.
But Bashir made it clear the prosecution could not validate Peter’s $800,000 claim, saying, “We do not have it. It is his evidence. Let him prove it. I can’t give what I don’t have.”
Jude and his company, Northside Music Ltd, are on trial for allegedly laundering N1.38 billion, $1 million, and £34,537.59. The EFCC also accused Jude of converting payments from Lex Records Limited meant for digital music distribution, denying Peter his rightful share.
Peter has appeared as a witness in the matter. On May 23, 2025, he told the court he discovered new information suggesting Jude and Paul shared more than $800,000 between March 2023 and October 2024.
But under further questioning from Jude’s lawyer, Clement Onwuenwunor, he adjusted his testimony, saying the withdrawals happened between 2013 and 2014.
Justice Oshodi adjourned the case to December 12, 2025, for continuation of trial.
