Jude Okoye, the long-time manager of the now-defunct P-Square group, has finally opened up about the revenue-sharing formula within the group, following serious fraud allegations made by Peter Okoye against him and Paul Okoye.
In a recent Instagram Live session, Jude disclosed that the proceeds from P-Square’s successful career were divided between the trio, with him receiving 40%, while Peter and Paul each took 30%. This revelation comes after Peter accused Jude of diverting millions of dollars in P-Square’s royalties into a private account.
Jude firmly denied these accusations, explaining that he cooperated fully with the Economic and Financial Crimes Commission (EFCC) during their investigation. “I went to the EFCC office with just Paul, no lawyer. I provided all the necessary documents, including Peter’s signature on official papers. The EFCC officers even acknowledged that I was entitled to 40% of the shares, while Peter and Paul were each entitled to 30%,” Jude explained.
He also shared that he presented a memorandum of understanding (MOU) to the EFCC, clearly outlining the agreed-upon sharing formula. However, the investigation led to irritable questions about how he financed his house in Ikoyi, which Jude clarified was funded by selling his house in America and borrowing money from friends.
Jude also revealed that the P-Square rift began in 2013 and escalated until the group officially split in 2016. He further mentioned that despite attempts at reconciliation in 2021, the twins’ unresolved differences led to another failed reunion.
Prominent Nigerians, including Emeka Offor, the late Ifeanyi Uba, Dantata, Atiku Abubakar, Peter Obi, and various governors and ministers, all tried to reconcile the duo, but to no avail.
As the drama unfolds, fans and industry insiders are closely watching to see if P-Square will ever mend their relationship and return to the music scene together.
