Jude Okoye Discloses Revenue Sharing Formula During His Tenure as P-Square's Manager
Jude Okoye Reveals P-Square's Revenue Sharing Formula Amidst Ongoing Family Dispute. Instagram:@psquareworld
Jude Okoye, the older brother and former manager of the now-defunct music duo P-Square, has revealed how the group shared their earnings during their time together. This disclosure comes amid ongoing controversy between the estranged twin brothers, Peter and Paul Okoye.
During an Instagram Live session, Jude clarified the revenue-sharing arrangement, stating that proceeds from P-Square's success were split between himself and the two brothers. According to him, he received 40% of the earnings, while Peter and Paul each received 30%.
Jude's revelation follows accusations from Peter Okoye, who alleged that Jude had diverted millions of dollars in royalties into a private account. Jude responded by providing detailed information on their financial arrangements.
He shared that he had presented documentation, including a Memorandum of Understanding (MOU), to the Economic and Financial Crimes Commission (EFCC) as proof that the sharing formula had been mutually agreed upon. According to Jude, during his visit to the EFCC office, officials reviewed the documents and verified that Peter had signed the necessary agreements.
"I went to the EFCC office with just Paul. I didn’t go with my lawyer. I gave them all the documents, and an officer confirmed Peter's signature,"
Jude stated. He also mentioned that the EFCC recognized his entitlement to 40% of the group's earnings, with Peter and Paul receiving 30% each.
Jude further disclosed that EFCC officials questioned the source of funds he used to build his home in Ikoyi. He explained that the property was partly financed by selling his house in the United States and taking out loans from colleagues.
Concluding his statement, Jude highlighted that he has not been involved with P-Square since 2016, following the group's split.
This latest development sheds light on the complex financial dynamics within P-Square, adding another layer to the ongoing family feud.