Nigerian Court Orders Oil Firm to Pay Indimi Daughters $43.51m in Dividend Dispute

A Nigerian court has ordered Oriental Energy Resources Limited to pay $43.51 million to twins Ameena and Zara Indimi following a long-running dividend disagreement involving their father, Muhammadu Indimi.

The ruling stems from a dispute in which the twin sisters alleged that their combined 10% shareholding in the oil company was reduced without their consent, effectively denying them access to dividends from a distribution pool estimated at about $435 million.

Court documents indicated that the share adjustment prevented the sisters from receiving their rightful earnings linked to the company’s offshore operations.

The decision, delivered by a Federal High Court, marked a significant development in the family business conflict, which had largely remained private until the high-value financial dispute became public.

While the precise breakdown of the $43.51 million award and the payment timeline were not disclosed, the judgment confirmed that the company owes the amount.

The case has drawn widespread attention in Nigeria’s business community, highlighting governance issues in privately owned firms where ownership structures and dividend arrangements are often not transparent.

Observers say the dispute could continue if an appeal is filed or if enforcement proceedings are pursued, though the ruling has already shifted the internal dynamics within the family-controlled enterprise.