Court Orders Indimi's Firm to Pay Daughters $43.51 Million

The Federal High Court in Nigeria has ruled that Orient Energy Resources Limited, a company owned by billionaire Mohammed Indimi, must pay $43.51 million to his daughters, Ameena and Zara Indimi. This decision follows a year-long legal battle concerning unpaid dividends related to the company's offshore oil operations.

The twins, who jointly hold a 10% equity stake in Orient Energy, argued they were entitled to a share of the dividend payout, which is reportedly valued at $435 million. The court's judgment has not fully disclosed the precise calculations for the amount awarded.

This case highlights significant issues within the Indimi family, including ongoing disputes over ownership stakes and financial transfers. Earlier in February, Mohammed Indimi's eldest son filed an affidavit against his sisters, claiming he had purchased their stake for $10 million, thereby contesting their claim to the $43.51 million payout.

The ruling raises broader questions about corporate governance and shareholder rights within privately held family-run businesses in Nigeria's extractive industry.