Oil Magnate Benny Peters Engages Foreign Lawyers to Dig him out of Legal Mess

Oil Magnate Benny Peters Engages Foreign Lawyers to Dig him out of Legal Mess


Sofowora Oladapo

Benny Peters is a recognized name in the oil and gas industry, the Vice Chairman of Aiteo Group, for his far reaching influence in the oil and gas industry,  has earned himself the nick name ‘Oil Emperor’.

Before the present administration, Benny Peters belonged to the privileged few, who had the opportunity of purchasing a lucrative oil well. This increased his wealth monumentally, situating his brand name, Aiteo, firmly in the oil and gas industry.

In November 2014, he had an estimated net worth of $2.7b and was ranked by Ventures Africa as the 17th richest person in Africa and the 7th richest person in Nigeria.

However like most successful business men who are not cordial with the Buhari-led administration of the present government, the mogul has fallen on hard times.

As he was involved in a nasty encounter with the Economic and Financial Crimes Commission (EFCC), in connection with the crime of criminal conspiracy, diversion of funds and money laundering.

Talk about finding yourself in hot water.

Happenings.com.ng gathered that the once untouchable billionaire, recently contacted the London- based law firm, Mishcon De Reya and American based law firm Covington & Burling, in a bid to dig himself out of his legal mess.

The man who was once called the Oil Emperor,  believes that his run in with the EFCC is a politically motivated witch hunt.

The UK- based Mishcon de Reya is one of the world’s leading legal firms with a proficiency for handling contentious international disputes.

The American law firm Convington, has an outstanding reputation for navigating complex legal issues at the intersection of law and policy around the world.

For engaging the services of these legal giants, our source revealed that it has set the oil magnate back with several millions of dollars.

Happenings Media