A Federal High Court ruling has handed twin sisters Ameena and Zara Indimi a $43.51m victory in a bitter dividend dispute, triggering an urgent legal
A Federal High Court ruling has handed twin sisters Ameena and Zara Indimi a $43.51m victory in a bitter dividend dispute, triggering an urgent legal scramble by oil magnate Muhammadu Indimi to shield his company’s bank accounts.
Muhammadu Indimi was accused by his two daughters of intimidation and forcing them to transfer their shares in the company over to him. Although Indimi told the court he had purchased their stakes for $10 million, he asserted that they have no legal claim to the $43.5 million they are demanding. He has also denied their accusations of intimidation, insisting they were not pressured into transferring their shares. Now Indimi is making frantic efforts to prevent his company accounts from being debited after the courts ordered that his firm, Oriental Energy, pay his two daughters $43.51m.
Founded in 1990, Oriental Energy Resources is a private Nigerian oil firm and the cornerstone of Indimi’s wealth. The company operates three major offshore assets—the Ebok Field, Okwok Field, and OML 115—in the prolific Niger Delta region. Its flagship Ebok Terminal serves as a key production hub for crude oil storage and offloading. Though Indimi’s net worth peaked at $670 million in 2014, it declined to $500 million in 2015, and Forbes stopped tracking his wealth thereafter. Despite this drop, he remains a powerful figure in Nigerian business, with substantial holdings, including being the largest shareholder of Jaiz Bank. While his personal fortune may have shrunk, Oriental Energy continues to boast assets worth billions, underscoring the high stakes in the ongoing family dispute.
