Why I take 40% of P-Square’s proceeds  – Jude Okoye speaks on sharing formula

By Taiwo Okanlawon

Jude Okoye, the elder brother and long-time manager of the defunct P-Square group, has revealed the sharing formula of the group proceeds.

This is coming after Paul revealed another fallout of the group, accusing Peter of orchestrating his arrest by the Economic and Financial Crimes Commission (EFCC).

Peter and Paul, first fell out in 2017, to pursue solo careers. The brothers reunited in November 2021, but their reconciliation was short-lived.

Peter denied the allegations and accused Jude of siphoning millions of dollars from their joint account into a secret company.

In a recent Instagram Live session, Jude expressed frustration at being repeatedly dragged into his brothers’ dispute.

Jude Okoye rubbished Peter’s fraud allegations, claiming he “twisted” it to make it “look fraudulent.”

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, denying 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.