The long-running legal battle involving Aiteo Group founder Benedict Peters and Nigeria’s Economic and Financial Crimes Commission (EFCC) continues to attract attention, years after the businessman was declared wanted over allegations linked to an alleged $115 million election bribery scandal.

The controversy dates back to Nigeria’s 2015 general elections, when the EFCC investigated allegations surrounding the alleged distribution of funds to influence the outcome of the elections.

Peters, one of Nigeria’s prominent indigenous oil entrepreneurs, was subsequently linked to the investigation and declared wanted by the anti-graft agency.

However, the legal battle has taken several turns since then, with Peters securing important court victories while the Nigerian authorities have continued to challenge some of the decisions.

How the $115 million controversy started

The case dates back to the build-up to Nigeria’s 2015 presidential election.

The EFCC investigated allegations that about $115 million was converted into naira and distributed to officials of the Independent National Electoral Commission (INEC) in an alleged attempt to influence the election.

The anti-graft agency subsequently linked a significant portion of the funds to companies allegedly associated with Peters.

In August 2016, the EFCC declared the businessman wanted over allegations including criminal conspiracy, diversion of funds and money laundering.

Peters denied the allegations.

The businessman was subsequently drawn into a wider investigation involving former Petroleum Minister Diezani Alison-Madueke, whose name had also featured prominently in the investigation into alleged election-related financial transfers.

Court overturned Peters’ wanted declaration

The case took a major turn in 2018 when an Abuja High Court ordered the EFCC to remove Peters from its wanted list.

The court ruled that the EFCC could not simply declare an individual wanted without following the appropriate legal process.

Following the ruling, Peters’ name was removed from the anti-graft agency’s wanted list.

The decision represented an early legal victory for the businessman in his prolonged dispute with Nigerian authorities.

Peters wins another major court battle

The legal controversy continued despite the earlier ruling.

In 2022, an Abuja High Court delivered another significant judgment involving Peters and properties allegedly connected to the businessman.

The court quashed corruption, bribery and money-laundering allegations brought against Peters in relation to the properties.

The court also awarded ₦200 million in damages against the EFCC, the Attorney-General of the Federation and other parties involved in the case.

The judgment was another major setback for the authorities pursuing the case.

EFCC challenges the ruling

The EFCC and other parties subsequently appealed the High Court’s decision.

The appeal brought the long-running dispute before the Abuja Division of the Court of Appeal.

In November 2025, the Court of Appeal heard arguments from the parties and reserved judgment in the case.

The appeal remains an important development in determining the final legal position surrounding the allegations against Peters.

Is Benedict Peters currently wanted by the EFCC?

The claim that the EFCC has “declared Benedict Peters wanted again” requires careful qualification.

While Peters was previously declared wanted by the EFCC, that declaration was subsequently challenged in court and his name was removed from the agency’s wanted list.

There has also been continued litigation between Peters and the Nigerian authorities.

However, a fresh 2026 EFCC declaration confirming that Peters has again been placed on the agency’s wanted list should not be reported as fact unless supported by a new official EFCC notice or credible contemporaneous reporting.

The latest established development is therefore the continuing legal dispute and appeal surrounding the earlier proceedings.

Peters remains active in business

Despite the legal controversy, Peters has continued to build his business interests.

He is the founder of Aiteo Group, one of Nigeria’s major indigenous energy companies.

The company has expanded its interests beyond oil production into areas including natural gas and other energy-related opportunities.

Peters has also developed interests outside the energy sector through Bravura Holdings, which has been involved in mining and mineral exploration projects across Africa.

His business activities have made him one of the more prominent indigenous entrepreneurs in Nigeria’s energy sector.

Ghana connection

Peters’ name has also featured in Ghanaian news in recent years.

In April 2025, reports emerged claiming that the Nigerian businessman had been arrested in Accra following an incident involving a residential development.

The Ghana Police Service subsequently denied that Peters had been arrested or detained, explaining that officers had responded to an incident involving an obstruction and traffic-related matter.

The incident generated considerable discussion but did not result in a reported criminal arrest of the businessman.

What happens next?

The next significant development in the legal saga is the decision of the Court of Appeal on the pending challenge to the earlier High Court ruling.

The outcome could determine whether some of the decisions that favoured Peters will stand or whether the authorities will be allowed to continue pursuing aspects of the case.

For Peters, the dispute has lasted nearly a decade and followed him through several levels of Nigeria’s legal system.

For the EFCC, the case remains another high-profile test of the agency’s ability to investigate and prosecute alleged financial crimes involving influential business figures while meeting the evidentiary and procedural requirements of the courts.

A case that has lasted nearly a decade

The Benedict Peters controversy began with allegations surrounding the alleged $115 million election-related payments, but the case has since evolved into a much broader legal battle.

The businessman has successfully challenged the original wanted declaration and secured significant court rulings in his favour, including a ₦200 million damages award against government agencies.

At the same time, the EFCC and other authorities have continued to challenge aspects of those decisions.

The eventual decision of the Court of Appeal could therefore provide an important chapter in one of Nigeria’s longest-running legal disputes involving a prominent indigenous businessman.