- Jude Okoye, former manager of the defunct P-Square group, has disclosed the group’s share formula following fraud allegations against him and Paul by Peter.
- The proceeds of P-Square were divided between him, Peter, and Paul.
- He claimed to have taken 40%, while the duo took 30% each.
Jude Okoye, the former manager of the now-defunct P-Square group, has disclosed the distribution formula for the group’s earnings in light of fraud accusations made against him and Paul by Peter.
He clarified that the earnings from P-Square were divided among himself, Peter, and Paul, with him receiving 40 percent while each of the brothers received 30 percent. During an Instagram live session on Saturday, Jude Okoye refuted Peter’s claims that he misappropriated millions of dollars in P-Square royalties into a personal account.
He stated, “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 also submitted a memorandum of understanding (MOU) to the anti-corruption agency to substantiate their agreed-upon sharing arrangement.
“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.
He noted that the situation deteriorated in 2021 when the brothers attempted a reunion, which ultimately failed due to lingering disagreements.
Jude added that numerous notable Nigerians had previously tried to mediate a reconciliation for P-Square but were unsuccessful.
“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.