P-Square’s Multi-Billion Naira Music Catalogue Sale Collapsed Over Irregularities—Mr P

By Adedapo Adesanya

Mr Peter Okoye, professionally known as Mr P, has alleged that a proposed multi-billion Naira sale of the defunct P-Square’s music catalogue collapsed after prospective buyers uncovered irregularities during the due diligence process.

This revelation offers a fresh financial dimension to the long-running dispute that has divided Nigeria’s most successful music duos.

The singer made the allegation in a video series posted on his social media pages, where he shared his account of the events surrounding the group’s 2021 reunion and the disagreements that followed with his twin brother, Mr Paul “Rudeboy” Okoye, and their elder brother and former manager, Mr Jude “Engees” Okoye.

According to Mr P, the failed catalogue transaction occurred after the brothers publicly reunited in 2021.

He alleged that interested buyers had made offers worth billions of Naira for the rights to P-Square’s music catalogue, but the proposed deal did not proceed after issues were allegedly discovered in backend records submitted as part of the due diligence process.

As of press time, neither Rudeboy nor Mr Jude Okoye has publicly responded to the latest allegation.

Mr P’s claims add another layer to the financial disagreements that have repeatedly overshadowed the affairs of the award-winning music duo, whose catalogue includes hit songs such as Bizzy Body, Do Me, Personally, No One Like You and Chop My Money.

Beyond the alleged failed sale, the singer claimed that shortly after the brothers reconciled in 2021, he was asked by his two other brothers to sign documents aimed at reviving P-Square under a new bank account.

The music maker said he declined because he wanted to preserve the renewed family relationship rather than return to a business arrangement he believed could recreate the conflicts that had led to the group’s earlier split.

Mr P also alleged that before the reunion, both Rudeboy and Jude had disagreed over a N90 million loan. According to him, Rudeboy assured him that he would be kept informed about discussions taking place behind his back.

The singer insisted that the widely celebrated reunion in November 2021 was never intended to revive P-Square as a commercial entity. Instead, he said the brothers had only agreed to reconcile as family members while continuing their respective solo music careers and supporting each other’s work.

P-Square, formed in 1999 by Peter and Paul Okoye with Jude serving as manager, became one of Africa’s biggest music acts before publicly splitting in 2017 following years of disagreements over management, finances and creative control. Although the brothers reunited in 2021 and returned to the stage, their relationship deteriorated again, with Rudeboy later confirming that P-Square no longer existed.

The latest revelations also come against the backdrop of an ongoing criminal case involving Mr Jude Okoye.

Last year, the Economic and Financial Crimes Commission (EFCC) arraigned the former manager before the Federal High Court in Lagos on allegations involving approximately N1.38 billion, $1 million and £34,537.59 in alleged money laundering. He has since pleaded not guilty and was granted bail.

Mr P, who testified for the prosecution during the trial, said his video series is far from over and promised to continue sharing what he described as the true story behind the collapse of P-Square and the business decisions that ultimately strained the family’s relationship.