Indimi Seeks To Join Appeal Against $43.5m Judgement Awarded To Daughters


 

Indimi Seeks To Join Appeal Against $43.5m Judgement Awarded To Daughters


By

Joshua Bilkisu Swatkasah 


Nigerian oil billionaire and founder of Oriental Energy Resources, Muhammadu Indimi, has applied to join the appeal against a Federal High Court judgement ordering the company to pay $43.51 million to his twin daughters, Zara and Ameena Indimi, in a dispute over dividend entitlements. Indimi is seeking to participate in the case in his personal capacity, despite Oriental Energy already challenging the ruling.


The dispute centres on the sisters' shareholdings in the company. They argued that their individual stakes were reduced from about five percent to approximately 0.63 percent, significantly lowering the dividends they received after Oriental Energy declared a $435.1 million dividend in 2016. In February, the Federal High Court ruled in their favour, holding that they remained entitled to dividends based on their original shareholdings.


Oriental Energy has appealed the judgement, insisting the reduction in the sisters' shareholdings was lawful, the transfers were voluntary, and that previous financial settlements had resolved the dispute. The Court of Appeal will first determine whether Indimi can be joined as a party before hearing the substantive appeal.


The case has drawn wider attention beyond the family dispute, raising important questions about shareholder rights, corporate governance, and succession in privately owned family businesses. Founded by Indimi in the early 1990s, Oriental Energy Resources is one of Nigeria's leading indigenous upstream oil producers, with interests in offshore assets including the Ebok, Okwok, and OML 115 oil fields.


#NexviewTv#NexviewNews#NexviewUpdate#2026#BreakingNews#Indimi#FederalHighCourt#CourtofAppeal#$43.5m#TwinDaughters#OrientalEnergyResources#FamilyDisputes#Ebok#Okwok#OML

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