The Economic and Financial Crimes Commission (EFCC) has informed a Lagos High Court in Ikeja that it has no evidence to support claims that Jude and Paul Okoye (P-Square) fraudulently withdrew $800,000, contradicting the primary allegation made by their brother, Peter Okoye.
Peter had petitioned the EFCC in 2024, accusing Jude and Paul of diverting P-Square funds, operating 47 undeclared bank accounts, and manipulating the share structure of Northside Entertainment Ltd.
EFCC Statement and Peter’s Inconsistency
Despite the petition, the EFCC, which filed charges against Jude over alleged financial misconduct, stated in court that it lacked evidence for the crucial withdrawal claim.
During cross-examination, EFCC counsel M.K. Bashir told Justice Rahman Oshodi: “We do not have it. It is his evidence. Let him prove it. I can’t give what I don’t have.”
Peter Okoye testified on May 23, 2025, that he obtained new evidence showing Jude and Paul allegedly withdrew and shared over $800,000 between March 2023 and October 2024. When confronted with inconsistencies by defense counsel Clement Onwuenwunor, SAN, Peter later revised his statement, saying the withdrawal actually occurred between 2013 and 2014.
The Bank Account and Ownership Dispute
The defense also challenged Peter’s claim that Jude operated 47 bank accounts. Peter insisted the EFCC held the records, but Bashir denied it: “I do not have 47 bank accounts. It is one of the witness’s claims, but I do not have such a copy.”
Justice Oshodi rejected the defense’s request to compel Peter and the EFCC to produce the alleged accounts, ruling that the defense must apply formally since the documents were not admitted as evidence.
Peter was further questioned about his claim that Jude owned 80 per cent of Northside Entertainment. While he maintained he had proof, the defense presented CAC records contradicting his assertion. The trial was adjourned to December 12, 2025, for continuation.
Source: Africa Publicity
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