Jude Okoye, the long-time manager of the defunct P-Square group, has revealed the sharing formula of the group proceeds following fraud allegations against him and Paul by Peter.
He explained that P-Square’s proceeds were shared between
him, Peter and Paul.
He stated that he took 40 per cent while the duo took 30 per
cent each.
Speaking in an Instagram live session on Saturday, Jude
Okoye denied the allegations leveled against him by Peter that he diverted
P-Square’s royalties worth millions of dollars into a private account.
He said, “I went to the EFCC office with just Paul. I didn’t
go with my lawyer. I gave them all the documents, an officer looked at it and
asked if Peter signed. I pointed at his signature for him. I showed him the CAC
certificates used in opening both Square Records and Northside Entertainment.
“They were like, you’re even more than P-Square. I said I
don’t understand what you mean. They said, look, you’re entitled to 40 per cent
shares while the duo are entitled to 30 per cent each. I said, well, I’m not
supposed to say it with my mouth, you can see for yourself.”
He said he also presented a memorandum of understanding,
MOU, to the anti-graft agency to prove that they all agreed on a sharing
formula.
“They [EFCC officers] started asking me some irritable
questions like where I got the money to build my house in Ikoyi,” Jude
recalled. noting that the building was partly financed by selling his house in
America and borrowing money from colleagues.
“I have not been with P-Square for the past eight years, since
2016,” Jude stated, revealing that the rift between the twins began in 2013 and
continued until the group officially split in 2016.
According to Jude, the situation worsened in 2021 when the
brothers attempted a reunion, which ultimately failed due to unresolved
differences.
He added that several prominent Nigerians had attempted to
reconcile P-Square in the past but failed.
“Emeka Offor, the late Ifeanyi Uba, Dantata, Atiku, Peter
Obi, governors, ministers, our village king, etc have all tried to reconcile
Psquare to no avail,” he said.
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