Twin sisters Ameena and Zara Indimi have won a $43.51 million court ruling against their father, billionaire oil magnate Mohammed Indimi, following a prolonged dispute over unpaid dividends. The verdict has now thrust one of Nigeria’s most prominent business families into public scrutiny.
The Federal High Court ruled that Oriental Energy, the oil firm controlled by Indimi, must pay the sisters the full amount. According to court filings, the twins argued that their shares were reduced without their consent during a major dividend distribution, leaving them excluded from what they were owed. Ameena and Zara jointly held a 10% stake in the company, entitling them to a portion of the $435 million payout.
The sisters claimed their holdings were sharply cut without agreement, blocking them from receiving millions linked to the firm’s offshore operations. “We were shut out of a huge dividend pool,” the twins stated in court documents, underscoring the financial stakes involved.
The ruling has turned a previously private family disagreement into public news, due to both the size of the sum and the profile of the business family involved. Oriental Energy is a major private player in Nigeria’s oil sector, and the family has historically tried to keep such matters out of the spotlight.
Reports suggest that the dispute may extend beyond the twins, with other relatives reportedly engaged in debates over ownership shares and whether prior payments should be treated as gifts or settled dividend entitlements.
The case also sheds light on private business operations in Nigeria, where financial and ownership details are often kept confidential. While the court did not provide a detailed breakdown of how the $43.51 million was calculated or the timeline for payment, the ruling clearly affirmed the sisters’ entitlement, giving them a stronger position as the case moves forward.
An appeal or enforcement process could prolong the resolution for months, but the judgment has already shifted the balance of power within both the family and the company, turning a dispute over missing dividends into one of Nigeria’s most closely watched private business battles.
Ademide Adebayo
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