Crime
Peter Okoye: EFCC Presents First Witness Against Ex-P-Square Manager Over Alleged N1.38bn Fraud
Peter Okoye: EFCC Presents First Witness Against Ex-P-Square Manager Over Alleged N1.38bn Fraud
Peter Okoye: EFCC presents first witness against ex-P-Square manager over alleged N1.38bn fraud. The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, Awolowo Road, Ikoyi, Lagos, on Monday, April 14, 2025, presented its first prosecution witness, PW1, Peter Obumuneme Okoye, against Jude Chigozie Okoye, elder brother and former Manager of Paul and Peter Okoye, before Justice A. Owoeye of the Federal High Court sitting in Ikoyi, Lagos.
Okoye is standing trial alongside his company, Northside Music Limited, on a seven- count charge bordering on money laundering to the tune of N1.38bn.
One of the counts 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 form part of 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.”
He pleaded “not guilty” to the charges when they were read to him, upon his arraignment on February 26, 2025. At today’s proceedings, Jude described the defendant as his elder brother and former Manager of the group called P-square.
Led in evidence by the prosecution counsel, Aso Larry’s Peters, Peter said: “The group, P-Square started sometime in 1997. But in 2017, it was disbanded. We stayed apart for about five years. But in November 2021, the group came back.
“Before Jude became our Manager, we had several managers, including Chioma Ugochi, who managed us when we were in the secondary school and in the University; and the late Bayo Odusami of Mbuntu music, who managed us for five years.
“Thereafter, my twin brother and I managed the band for a couple of months before we decided that he (Jude) would manage us and Northside Entertainment Limited.
“So, we continued running our business. But we were always having issues about how he was running the business. The issues were mainly about the fact that he was the sole signatory to all our bank accounts in Ecobank, Zenith and FCMB.
“These issues lasted for a couple of months. I didn’t have access to the accounts until the current Minister of Aviation, Mr. Festus Keyamo, SAN, who was our lawyer, said we needed a sharing formula.”
While giving further evidence, he recalled an incident when the brothers were building their houses in Ikoyi, saying, “The funding of the house project was by Northwest Entertainment Ltd. But they just stopped financing my house for six months.
“The accounts were owned by the company, while Jude was the only signatory to all the accounts. At some, I approached him and my twin brother, Paul, to know why they stopped financing my project. But what I heard from them was “As you leave P-square, u leave the money’.
“With that comment, I had to approach our lawyer, Keyamo. “All our money is in Northside Entertainment, and he is the sole signatory.
“Along the line, I discovered that there’s a company similar to ours, Northside Music Limited.
“In 2022, I discovered this when some people wanted to acquire our albums. These individuals demanded our statements of account to know how much the albums were generating monthly.
The reason is that I didn’t have access to ‘backend’, which could be traced through a Northside account and through the aggregators (these are people you engage to know when they play your music on any medium, so you get paid). I then demanded that I wanted to know the backend. But he refused.
“Then, I went to my twin brother, Paul, who replied thus: “You know, I don’t know anything about it, but Jude.”
“When I suggested we go to see him, he said he would go and meet him, so I left him.”
He further told the court that when he approached Paul a few weeks after about it, Paul told him he had discussed the issue with Jude.
Giving further testimony, he told the court that : “ Thereafter, I approached Jude again. He told me that my share of the money was with some people in South Africa. I told him I was not asking for money , but the backend and the statements of the account. But there was no positive response.”
Following this discussion, he said he then reached out to the accounts officers in both Eco Bank and Zenith Bank, respectively . But he said he did not get satisfactory response from them.
According to him , “The account officer at the Zenith Bank later told me that Jude told him not to send it to me. The officer added that the only way I could get it was through the court.
“ I, however, discovered that the aggregators handling P-square’s Music Company were the same persons handling Paul and Peter. So, I approached Paul and told him to give them the albums of P-Square. But Jude and Paul were not comfortable with that.”
Also, Peter told the court that both Jude and Paul subsequently allowed him to give the catalogue to Mad Solution and he was assured that he would start receiving money after three months.
He said: “ Three months after, I received over $22,000 USD. I was also told that both Jude and Paul had been paid.
“ Until I called, I did not have an idea of a company called Northside music. I decided not to meet Jude over it. But when I approached Paul if he knew about Northside Music, he said I should check the album by Cynthia Morgan, who was then Jude’s artiste.
“When I checked Cynthia Morgan’s album, it was Northside Incorporation and not Northside Music. I then approached Jude for the same backend. He told me that it was going to take three and half months to retrieve the catalogue.
“And then forwarded the catalogue to me. My new management now sent it to people who wanted to buy it.”
Peter Okoye
According to him, “ By the time it was sent to me, it only bore numbers and not figures.
“They responded that the backend had been tampered with, which suggested that the people who offered $8000 USD could not offer $500 USD,owing to the fact that the numbers had reduced.
“ I went to the Corporate Affairs Commission (CAC) site, and discovered that the Directors of Northside Music were Jude Okoye and his wife. I also discovered that Jude’s wife owned 80%, while Jude owned 20%.
“On the backend, I was unable to get anything because it had been tampered with. One of those interested in buying the catalogue came to my house and invited Paul .
But his response was that “ I know Peter has told you this. …..When he came back after an hour, he told me that he was tired of all this and that I could do my worst.
“ The man handling our tax , Emmanuel, came to my house and said Jude should pay N2m or thereabouts.
“He said Jude was able to prove that since they broke up, they had not been performing. But when I checked the statements of accounts from January 1, to December 2017, I discovered that those who paid money to the Access Bank account were the aggregators.
“ I then contacted my lawyer, Afolabi l, who now took the matter to the EFCC.”
The case was adjourned till June 4, 2025 for cross-examination.
EFCC Arraigns Former SKye Bank Chairman, Tunde Ayeni For N15.6b Fraud
The Economic and Financial Crimes Commission, EFCC, on Monday, May 4, 2026, arraigned a former Chairman, Board of Directors of the defunct Skye Bank Plc, Tunde Ayeni before Justice Jude Onwuzuruike of the Federal Capital Territory, FCT, High Court, Apo, Abuja.
Ayeni was arraigned on a 17-count charge bordering on criminal breach of trust, misappropriation and conversion of investors’ funds to the tune N15,665,085,429 (Fifteen Billion, Six hundred and Sixty five Million, Eighty five thousand, Four Hundred and Twenty-nine Naira (N15,665,085,429).
Prosecution counsel E.E. Iheanacho, SAN, informed the court that the matter was slated for arraignment and prosecution ready for trial.
“We have before the court 17-count charge dated April 28, 2026, we humbly apply that the charge be read to the defendant”, he said.
Eereporter.com
Count three of the charge reads: “That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc between 21st of October, 2014 and 19th November, 2014 at Abuja within the jurisdiction of this Honourable Court and having dominion over depositors funds domiciled in the defunct Skye bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the aggregate sum of Three billion, Two hundred and One million, Five Hundred and Thirty Five Thousand, Four Hundred and Twenty Nine Naira, Forty two kobo(N3,201,535,429.42) by transferring same to Misa Limited’s account No: 1011295717 and 1011295718 domiciled with Zenith Bank in Violation of the Prudential Guidelines and other regulations and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of the same Act.
Count five of the charge reads: “That you Tunde Ayeni, whilst being the Chairman, Board of Directors of the Defunct Skye Bank Plc on or about 27th November, 2014, at Abuja within the Jurisdiction of this Honourable Court and having dominion over depositors’ funds domiciled in the defunct Skye bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the sum of Five Billion, Seventy Eight million, Five hundred and Fifty thousand Naira(N5, 078,550,000) by transferring same to Union Registrar Limited’s Account No: 0003490559 domiciled with Union Bank in violation of the Prudential Guidelines and other Regulations and thereby Committed an offence contrary to Section 311 of the Penal Code and Punishable under Section 312 of same Act.”
Fraud
Ayeni pleaded “not guilty” to the charges when they were read to him.
In view of his “not guilty” plea, Iheanacho prayed the court for a trial date and urged the court to remand the defendant in a Correctional Centre.
Defence counsel, Ahmed Raji Bashir, SAN, informed the court that the charge was given to the defendant on a public holiday adding that he considered it imperative to inform the court. He also prayed the court to release the defendant to him or return him to the custody of the EFCC.
Justice Onwuzuruike adjourned the matter to May 13, 2026, for hearing of the bail application, while the defendant was remanded at the Kuje Correctional Centre pending determination of bail application.
EFCC Arraigns Fake BDC Operator For Alleged N78. 2m Fraud In Onitsha
The Enugu Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, has arraigned one Okeke Ejike Callistus, a fake Bureau De Change operator before Justice D. A. Onyefulu of the Anambra State High Court sitting in Onitsha, Anambra State.
Callistus was arraigned on a ten-count charge bordering on forgery and stealing to the tune of N78, 295, 000 (Seventy-eight million, Two hundred and Ninety-five thousand Naira).
Count one of the charge reads: “Mr. Okeke Ejike Callistus (trading under the name and style of Nwachimereze Amen Resources), sometime on the 2nd of May, 2024, at Onitsha, within the jurisdiction of the High Court of Anambra State, did commit a felony to wit: stealing by fraudulently converting to your personal use the sum of N62, 745, 000. 00 (Sixty-two million, Seven hundred and Forty-five thousand Naira) being property of Ezegwu Leonard Chinedu trading under the name and style of Leatez Enterprises and thereby committed an offence”.
Eereporter.com
Count two of the charge reads: “That you, Okeke Ejike Callistus (trading under the name and style of Nwachimereze Amen Resources), sometime between the 3rd to the 7th of May, 2024 at Onitsha, within the jurisdiction of the High Court of Anambra State, did commit a felony to wit: stealing by fraudulently converting to your personal use the sum of N15, 550, 000. 00 (Fifteen million, Five hundred and Fifty thousand Naira) being property of Ezegwu Leonard Chinedu and thereby committed an offence”.
The offence contravenes Section 342 of the Criminal Code Law, Cap 36, Anambra State and punishable under Section 353 (12) of the same Law.
The defendant pleaded “not guilty” to the charges preferred against him by the Commission and in view of his plea, counsel to the EFCC, Assistant Commander of the EFCC, ACE II Rotimi Enitan Ajobiewe prayed the court for a trial date and for the defendant to be remanded at the facility of the Nigerian Correctional Service.
However, defence counsel, Hypolite Ohaneche informed the court about a pending bail application before it, moved it and prayed the court to admit his client to bail.
Ajobiewe opposed the bail application on the ground that “there is likelihood of the defendant jumping bail due to the fact that he previously jumped bail granted him by the Commission”.
After listening to both sides, Justice Onyefulu granted the defendant bail in the sum of N50million with two sureties. One of them must have a tax clearance certificate. The sureties must be related to the defendant, live within the jurisdiction of the court and have a National identification Number.
EFCC
The defendant was arrested when a petitioner, Ezeugwu Leonard Chinedu, claimed that he gave him the sum of N78, 295, 000 for onward transmission to his business partner in China.
Instead of remitting the money, the defendant remitted some and sent telex copies of “ABA Bank of Cambodia” for the outstanding amount, which upon presentation to the partner in China, were found to be fake.
During the course of investigation, the defendant admitted receiving the said sum but added that he diverted part of the money for his personal use.
Nigerian Navy Storms Dayspring Island, Routs Militants, Demolishes Hideout In Cross River
The Nigerian Navy has escalated its offensive against criminal elements in the maritime domain, delivering decisive blows to militant networks operating along the Calabar–Oron channel in Cross River State.
In a series of aggressive clearance operations, personnel of Nigerian Navy Ship (NNS) VICTORY and Forward Operating Base (FOB) IBAKA stormed Dayspring Island following the recent surge in kidnappings and related criminal activities.
The operation was anchored on the establishment of a forward security outpost at Idung 1 (Peacock Crossing), providing a tactical foothold for sustained dominance of the creeks and adjoining waterways.
The rapid offensive forced suspected militants to abandon their positions and flee upon contact with advancing naval troops. Maintaining relentless pressure, Nigerian Navy personnel, in conjunction with troops of the Nigerian Army 13 Brigade, secured key waterways and denied the criminals freedom of movement.
Eereporter.com
Exploitation of the area led to the discovery and destruction of a militant hideout linked to a notorious suspect known as “Juju” in the Idung axis. The suspect fled in disarray, abandoning two boats fitted with outboard engines, which were immediately seized. The hideout was subsequently demolished to eliminate its future use as a criminal sanctuary.
Further tightening the noose, troops tracked and apprehended one suspected informant providing support to the militant network. The suspect is currently in custody, undergoing interrogation and will be handed over to the appropriate authorities for prosecution.
Nigerian Navy
To consolidate operational gains and choke criminal activity, a 13-hour restriction on maritime movement from 5:00 pm to 6:00 am has been enforced within the operational area.
Prior to the intervention, militant elements operated with impunity, conducting kidnappings and extorting riverine communities. The sustained naval onslaught has now degraded their operational capability, disrupted their logistics, and confined their activities deep within the creeks.
The Nigerian Navy remains resolute and will sustain this aggressive posture, ensuring that all criminal elements are flushed out and the maritime environment remains secure for lawful activities.
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