Billionaire Mohammed Indimi’s Firm Ordered To Pay Daughters $43.51m in Landmark Court Ruling

A Nigerian court has ordered Oriental Energy Resources to pay $43.51 million to the twin daughters of billionaire oil magnate Mohammed Indimi, in a judgment that concludes a lengthy and closely watched corporate dispute.

Background of the Case

The legal battle  centers on allegations of unpaid dividends and disputed shareholdings within the privately held oil company. The claimants, Ameena Indimi and Zara Indimi, argued that they were entitled to dividend payments arising from their equity interests in the firm.
According to court documents referenced in the proceedings, the dispute was triggered after a substantial dividend declaration reportedly worth hundreds of millions of dollars was made by the company. The daughters maintained that their shareholding — initially stated to represent a combined stake — was allegedly reduced without their consent, effectively limiting their access to the declared profits.
They subsequently approached the court, seeking enforcement of their rights as shareholders and compensation for what they described as withheld dividend payments.

The Court’s Decision

After reviewing submissions from both sides, the court ruled in favour of Ameena and Zara Indimi, ordering Oriental Energy Resources to pay $43.51 million. The judgment is understood to represent accumulated entitlements linked to dividend distributions and associated financial claims.
Legal observers note that the ruling underscores the enforceability of shareholder rights under Nigerian corporate law, particularly in disputes involving family-owned enterprises. The decision also highlights the judiciary’s role in resolving complex commercial disagreements, regardless of the prominence of those involved.

Significance of the Ruling

The case has attracted national attention due to the stature of the parties and the magnitude of the award. Mohammed Indimi is widely regarded as one of Nigeria’s leading figures in the oil and gas sector, and Oriental Energy Resources operates as a significant player in the country’s upstream petroleum industry.
The judgment could have financial and reputational implications for the company, depending on whether it opts to comply with the ruling or pursue further legal remedies, including an appeal.

Next Steps

As of the time of reporting, the company has not issued a detailed public statement outlining its response to the court order. Legal analysts say the enforcement phase will determine whether the matter is concluded or proceeds to the appellate courts.
The ruling marks a major development in one of the most prominent family-linked corporate disputes in Nigeria in recent years, reinforcing the principle that contractual and shareholder obligations remain subject to judicial scrutiny and enforcement.