A Federal High Court has ordered Oriental Energy, founded by businessman Muhammadu Indimi, to pay $43.51 million to his twin daughters, Ameena and Zara Indimi, over a dispute concerning dividends
The ruling, reported by The Africa Report, sided with the twins after a legal battle over whether they were unfairly excluded from dividends linked to the company’s offshore oil earnings.
The dispute centres on ownership and entitlement. The twins claimed they were entitled to a combined 10 percent stake in Oriental Energy, giving them a share of dividends from approximately $435.1 million reportedly declared by the company. They argued that their holdings had been reduced without their consent, denying them the full payout they believed was due.
Oriental Energy is a Nigerian private exploration and production company with offshore interests in the Niger Delta. The firm has operated for decades and is among the better-known privately held players in Nigeria’s upstream oil sector.
The disagreement also reflects wider tensions within the Indimi family, including debates over whether earlier payments to relatives should count as gifts, buyouts, or settlements that terminated dividend rights. Ahmed Indimi, son of Muhammadu Indimi and husband of Zahra Buhari, daughter of former President Muhammadu Buhari, testified against his sisters during the proceedings.
Specific details of the court’s calculation of the $43.51 million award and the timeline for compliance were not disclosed in available reports.
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