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Alleged $1m case: Peter Okoye confirms co-signatory status

Naija News • Feb 23
Alleged $1m case: Peter Okoye confirms co-signatory status
**Peter Okoye Takes the Stand in Lagos High Court: What You Need to Know** In a recent turn of events at the Lagos High Court in Ikeja, popular musician Peter Okoye has confirmed that he is a co-signatory to the Ecobank account of Northside Entertainment Limited, a company owned by his family members. This revelation came to light during the trial of his elder brother, Jude Okoye, who is being prosecuted by the Economic and Financial Crimes Commission (EFCC) over allegations of mismanaging company funds. According to court documents, Peter and his twin brother, Paul, were listed as signatories to the account, alongside Jude. However, Peter clarified that although Jude initially operated the account alone, the arrangement later changed to include all three brothers. He also stated that he had not personally signed cheques or carried out transactions on the account. In the midst of this drama, Peter also shed light on the ownership of the PSquare music catalogue. He revealed that the catalogue, which comprises songs released by the group over the years, belongs to him and his twin brother. With an estimated six albums and between 10 and 15 tracks each, the catalogue is a significant part of their music legacy. Peter also disputed the defence's suggestion that Jude played a more substantial role behind the scenes, insisting that he and his twin brother drove the group's success from the outset. The trial has also seen the introduction of various companies involved in managing the brothers' business, including Northside Entertainment Limited and Square Records Limited. Peter revealed that the structure of these companies made him and his twin brother both artistes and part-owners, with Jude holding about 40 per cent shares in Northside Entertainment. He also identified Mad Solutions as one of the companies responsible for collecting and distributing royalties from PSquare songs in Nigeria. As the trial continues, fans and observers are watching with bated breath to see how the drama unfolds. With Peter Okoye's testimony having shed new light on the ownership of the PSquare music catalogue and the management of company funds, one thing is certain: the music industry will be watching closely to see what the future holds for the Okoye brothers.
Source: Original Article. AI-enhanced version.