A Nigerian Federal High Court has ordered Oriental Energy, a company linked to billionaire oil magnate Mohammed Indimi, to pay his twin daughters, Ameena and Zara Indimi, a total of $43.51 million in a long-running dividend dispute.
The ruling represents a major legal victory for the sisters in a case that has exposed deep family divisions and raised questions about shareholder rights in family-owned enterprises.
The judgment stems from litigation brought by Ameena and Zara, who argued that they were entitled to significant unpaid dividends from Oriental Energy. According to insiders and court filings, the sisters alleged that changes to their shareholding – reducing their stakes dramatically without clear consent – left them owed millions in dividends that were never paid.
This latest ruling follows months of legal wrangling. In earlier phases of the case, the sisters acknowledged receiving some dividends but maintained that they had not been properly compensated for their full share of profits generated by the family business. They also sought a formalised 10% stake in Oriental Energy, signalling ambitions for a controlling interest in the company’s future direction.
Documents previously reported said the dispute originally involved questions about how and why the daughters’ ownership interests in the company were adjusted, with reference to a much larger alleged dividend pool valued at $435.1 million.
Indimi, whose wealth and business influence span sectors including oil and gas, infrastructure, and philanthropy, has not publicly commented on the court’s latest court ruling.
