Popular musician Peter Okoye on Friday admitted before the Lagos State Special Offences Court in Ikeja, presided over by Justice Rahman Oshodi, that he is a co-signatory to the bank account of Northside Entertainment Limited, contradicting his earlier testimony that his elder brother, Jude Okoye, was the sole signatory.

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

Peter had previously maintained that Jude alone controlled the company’s finances and accounts.

However, during cross-examination, defence counsel Clement Onwuewunor, SAN, presented bank mandate documents indicating that Peter and his twin brother were also signatories to the account.

Confronted with the discrepancy, the singer initially explained that his earlier understanding came from a telephone conversation with officials of what he described as a new bank.

But when specifically asked about the company’s account with Ecobank Nigeria, he acknowledged his role.

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

Peter further clarified that Jude initially operated the account alone before adding him and his twin brother years later.

He also claimed that despite being a signatory, he never personally signed cheques or conducted transactions on the account.

During the proceedings, Peter reaffirmed that the music catalogue of the defunct group, P-Square, belonged exclusively to him and his twin brother, insisting that Jude was not part of the original group but later became their manager around 2004 or 2005.

He admitted there was no written contract formalising Jude’s appointment. His testimony suggested that Jude played a more substantive role in the group’s success than the artistes themselves, maintaining that the duo built their career independently from their student days before engaging multiple managers, including their elder brother.

Peter also confirmed that the brothers established companies to manage their music business, including Northside Entertainment Limited as a management outfit and Square Records Limited as a record label, making him and his twin brother part-owners of the enterprises.

On the shareholding structure, he told the court that Jude held about 40 per cent of the shares in Northside Entertainment Limited while he held roughly 30 per cent, although he said he was not certain of the exact figures.

He identified Mad Solutions as one of the organisations responsible for collecting and distributing royalties from P-Square’s songs in Nigeria, adding that his royalties were paid directly into his personal account.

“They pay me my share in my personal account as Peter Okoye,” he said, noting he could not speak on how payments due to others were handled.

At another point, the defence presented a royalty distribution contract and asked him to confirm whether the signature belonged to him.

Peter responded that it appeared to be his signature but requested time to examine the document more closely.

The case was adjourned until May 15 and 22, 2026, for continuation of the hearing. (TRIBUNE)

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