Peter Okoye Admits Co-Signatory Role in Northside Account Amid $1m Theft Trial

Nigerian music star Peter Okoye has admitted before a Lagos High Court in Ikeja that he is a co-signatory to Northside Entertainment Limited’s Ecobank account, contradicting his earlier claim that his elder brother, Jude Okoye, was the sole signatory.

Key Court Revelations

• Peter made the admission during the resumed hearing in the alleged $1 million theft case filed by the Economic and Financial Crimes Commission against Jude.
• Earlier, he had insisted Jude alone controlled the company’s finances.
• Defence lawyers presented bank mandates showing Peter and his twin brother were also signatories.

Peter’s Explanation

Peter clarified that:

• Jude initially operated the account alone.
• He and his twin brother were later added as co-signatories.
• Despite being listed, he never signed cheques or carried out transactions.

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

Ownership and Business Structure

Peter further testified that:

• The P-Square catalogue belongs solely to him and his twin brother.
• The group released about six albums with nearly 100 songs.
• Jude was not an original member but later became their manager around 2004–2005 without a formal contract.

Company and Shareholding Details

• Northside Entertainment Limited serves as the group’s management company.
• Square Records Limited functions as their record label.
• Jude allegedly holds about 40% shares, while Peter holds about 30%, though he said he was unsure of exact figures.

Royalties and Payments

Peter told the court that royalties from the group’s music are distributed through organizations such as Mad Solutions and paid directly into beneficiaries’ personal accounts.