Nigerian oil tycoon, Mohammed Indimi loses $43.5 million dividend dispute to daughters

Nigerian oil tycoon Mohammed Indimi has suffered a legal setback after a Federal High Court awarded his twin daughters, Ameena and Zara Indimi, $43.5 million in a long-running dispute over unpaid dividends from Oriental Energy. 

The ruling underscores growing scrutiny on governance in family-owned Nigerian businesses, confirming the sisters’ entitlement as joint holders of a 10% stake. 

Indimi twins claim $43.5 million dividend from Oriental Energy
Once a private disagreement, the dispute now highlights how ownership structures and shareholder rights in prominent family empires can trigger high-profile legal battles with wide financial and reputational impact.

The sisters claimed exclusion from a substantial $435 million dividend pool. Court filings show their stake was allegedly reduced without consent, blocking access to millions linked to Oriental Energy’s offshore operations.

Family feud draws national attention
The dispute, previously private, has captivated national media, highlighting challenges of transparency and governance in family-owned Nigerian businesses, particularly within the oil sector.

Ripple effects hit the Indimi empire as family disputes over dividends hint at deeper questions around governance and ownership in privately held firms

Legal precedent and governance lessons
The $43.5 million ruling sets a precedent for shareholder rights enforcement in Nigeria, emphasizing the importance of transparent corporate structures in family-run enterprises.

The court decision strengthens Ameena and Zara Indimi’s position, potentially influencing future shareholder enforcement proceedings. It also signals increased scrutiny on family business governance, particularly in Nigeria’s lucrative oil sector.