Business Hilights
Tracking Nigeria's Headline Business News Online

Aiteo boss links crisis to toxic culture of politically motivated witch-hunts

…Hires UK, US best law firms

Fresh and chilling reasons have emerged on why the embattled Executive Vice Chairman of Aiteo Group, Mr. Benedict Peters, has assembled UK-based Mishcon de Reya Law firm to address what he described as unfounded allegations against him in the Nigerian oil industry.

Peters is the founder and vice chairman of Aiteo Group, He is listed as the 17th richest man in Africa. He cut his teeth in the oil and gas over the years both in Nigeria and aboard.

Mishcon de Reya is one of the world’s leading legal practices with a particular proficiency in handling contentious international disputes.

Also drafted in the matter is Washington’s Covington & Burling to lead ongoing efforts to address politically-motivated issues.

Giving insights over the choice of foreign law firm, Aiteo boss noted that “I maintain my position that all the allegations are baseless and without any truth whatsoever. These unfounded allegations have caused untold disruption to my family and my business. To ensure that we remain focused, I have engaged two of the world’s leading law firms to offer both counsel and guidance in dealing with these issues.”

Aiteo Peters
Benedict Peters, founder and Vice Chairman of Aiteo Group

Continuing, he averred that “There is a toxic culture of politically motivated witch-hunts that stains reputations, stifles enterprise and keeps foreign investors away from our country. For two years, I have suffered malicious, unfounded and false allegations hanging over my head.”

“This persecution is being pursued to diminish the visible endeavours to position our business, and Nigeria, at the apex of the energy industry worldwide. Despite these distractions, I remain focused on the efforts to sustain Aiteo’s growth towards becoming Nigeria’s leading indigenous oil producer. It is time to address the situation and so I have decided that I must take direct legal and other action to clear my name.”

Accordingly, Peters has now decided to publicly bring every inch of this matter to the fore.

Business Hilights recalls that Aiteo Group, founded in 1999, is a leading indigenous Nigerian oil producer headquartered in Lagos.