In response to Peter’s accusations of fraud against him and Paul, Jude Okoye, the longtime manager of the now-defunct P-Square group, disclosed the organization’s profit-sharing formula.
He clarified that he, Peter, and Paul divided the profits from P-Square.
He said that he took forty percent and the other two took thirty percent apiece.
Jude Okoye refuted Peter’s claims during a Saturday Instagram live session that he transferred millions of dollars’ worth of P-Square revenues into a personal account.
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‘I went to the EFCC office with just Paul,’ he remarked. My lawyer wasn’t there with me. After I handed over all the paperwork, an officer examined it and inquired as to whether Peter had signed it. I indicated his signature For him.
I displayed to him the CAC certifications that were used to launch Northside Entertainment and Square Records.
‘You’re even more than P-Square,’ they said. I replied, ‘I’m not sure what you’re saying.’ They said, ‘Look, you have a forty percent share entitlement, and the two have thirty percent each.” I answered, ‘Well, you can see for yourself; I’m not supposed to say it with my mouth.’
In order to demonstrate that everyone involved had reached a consensus on a sharing formula, he claimed to have also given the anti-graft agency a memorandum of agreement, or MOU.
Jude said, ‘They [EFCC officers] started asking me some annoying questions, like where I got the money to build my house in Ikoyi.’ mentioning that a portion of the building’s funding came from selling his American home and taking out loans from friends and family.
Jude revealed, ‘I have not been with P-Square for the past eight years, since 2016.’ The brothers’ feud started in 2013 and lasted until the group’s formal breakup in 2016.
Jude claims that when the brothers tried to get back together in 2021, it got worse because of unsolved issues.
He continued by saying that there had been prior unsuccessful attempts by a number of well-known Nigerians to reunite P-Square.
‘There have been numerous attempts to bring Psquare together, but to no effect: Emeka Offor, the late Ifeanyi Uba, Dantata, Atiku, Peter Obi, governors, ministers, our village king, etc.,’ he claimed.
