‘I took 40% of PSquare’s proceeds…’- Jude Okoye
Jude Okoye, the former manager of the iconic Nigerian music duo PSquare, has publicly addressed the longstanding allegations of fraud levied against him by his younger brother, Peter Okoye. In a candid Instagram Live session, Jude clarified the financial arrangements and shared detailed documents to support his claims.
Jude Okoye disclosed that during his tenure as PSquare‘s manager, the group’s earnings were divided into three parts: he received 40% while Peter and Paul each received 30%. This revelation came amidst accusations from Peter that Jude had misappropriated funds meant for the group.
To substantiate his claims, Jude presented documents, including a memorandum of understanding (MOU) and other financial records, which he had previously submitted to the Economic and Financial Crimes Commission (EFCC). “I went to the EFCC office with just Paul. I didn’t go with my lawyer. I gave them all the documents, and an officer looked at it and asked if Peter signed. I pointed at his signature for him,” Jude explained.
The tensions within PSquare, according to Jude, began as far back as 2013, eventually leading to the group’s official split in 2016. Despite his exit from managing the group eight years ago, the accusations and the rift between the twins have persisted.
Jude recounted the EFCC’s investigation into his financial activities, including questions about the funding of his house in Ikoyi. He clarified that the house was financed through the sale of his property in America and loans from colleagues, not from PSquare’s earnings. “They [EFCC officers] started asking me some irritable questions like where I got the money to build my house in Ikoyi,” Jude recalled.
Efforts to reconcile the Okoye brothers have involved several high-profile Nigerians. Jude mentioned that figures like Emeka Offor, Ifeanyi Uba, Dantata, Atiku Abubakar, Peter Obi, and various governors have tried to mediate, but their attempts have been unsuccessful.
Jude was emphatic that his wealth was not derived from siphoning PSquare’s funds. “I have not been with PSquare for the past eight years, since 2016,” he stated, highlighting that his financial independence was due to his ventures outside the group.
