The lingering $43.5 million dividend dispute between twin sisters, Ameena Indimi-Dalhatu and Zara Indimi, and Oriental Energy Resources Limited has entered a fresh phase, with allegations that some commercial banks are frustrating efforts to enforce a court judgment already delivered in favour of the claimants.
The sisters, shareholders in Oriental Energy, had secured a ruling awarding them the disputed dividends. But despite the judgment, the funds have yet to be recovered, prompting them to initiate garnishee proceedings aimed at compelling banks holding the company’s funds to comply with the court’s directive.
Their legal team insists the banks were duly served with the necessary court processes but failed to act. Instead, they allege, the institutions took steps that hindered access to the funds—raising suspicions of possible collusion with the oil firm.
According to court filings, the claimants argue that the conduct of the banks has effectively stalled execution of a valid judgment, undermining the authority of the court.
They are now seeking further orders to compel compliance and, where necessary, sanctions against any institution found to be in breach.
The dispute itself stems from disagreements over dividend entitlements, a matter the court had resolved in favour of the sisters. However, enforcement has proven contentious, drawing in third parties and prolonging the legal battle.
There has been no detailed public response from Oriental Energy Resources Limited on the fresh allegations. However, the company retains the right to challenge the judgment through the appellate process, a route that could see the case proceed to the Supreme Court of Nigeria.
Legal observers say this possibility may be shaping the posture of the banks. In high-value disputes where appeals are anticipated, financial institutions often act cautiously to avoid taking steps that could later be overturned. Even so, the court is expected to determine whether the banks’ actions amount to prudent restraint or a violation of its orders.
The outcome of the proceedings is likely to be closely watched, not just by the parties involved but across the financial and energy sectors, where enforcement of court judgments remains a critical test of legal certainty.
