Muhammadu Indimi is expected to pay $43.51 million to his twin daughters, Ameena and Zara Indimi
“Nobody wins when the family feuds.” Those famous words from rapper and business mogul Jay-Z capture a truth that stretches far beyond music.
When families lock horns, regardless of the size of the disagreement, progress often becomes the first casualty, turning private tensions into public drama and shared success into shared loss.
That reality has played out dramatically in Nigeria, where a dispute inside one of the country’s wealthiest families has moved from the boardroom to the courtroom, ending in a multimillion-dollar judgment that reads more like a corporate thriller than a routine shareholder case.
A Nigerian Federal High Court has ordered Oriental Energy, the oil company founded by billionaire businessman Muhammadu Indimi, to pay $43.51 million to his twin daughters, Ameena and Zara Indimi.
The ruling follows a legal battle over unpaid dividends tied to the company’s lucrative offshore oil operations.
Africa’s richest man appoints daughters to lead key positions in family business
According to The Africa Report, the judgment represents a significant victory for the sisters and offers a rare glimpse into the inner workings of a powerful private oil empire that has largely operated away from public scrutiny.
But the question remains; why have they sued their own father, who owns what and who gets paid?
The twins argued they were entitled to a combined 10 percent stake in Oriental Energy and therefore deserved a proportional share of dividends linked to roughly $435.1 million reportedly declared by the company.
According to their claims, their shareholdings were later reduced significantly, leaving them with far smaller payouts than they believed they were owed.
They also alleged the changes effectively excluded them from the dividend pool, transforming what could have remained a private family disagreement into a major legal confrontation.
The court ultimately agreed with the sisters, concluding that payments were indeed owed by their father’s company.
Details of how the court calculated the $43.51 million award, as well as the timeline for compliance, remain unclear for now.
However, the ruling is expected to reshape the balance of leverage in any negotiations that may follow.
Though not widely known outside industry circles, Oriental Energy is a significant player in Nigeria’s upstream oil sector.
The privately held exploration and production firm operates key offshore assets in the Niger Delta and has long been central to Muhammadu Indimi’s business empire.
Like many privately owned oil companies, its ownership structure and financial arrangements have largely remained confidential. That secrecy has even made the case especially noteworthy, offering a rare public insight at shareholder arrangements within one of Nigeria’s most influential family-controlled businesses.
Muhammadu Indimi himself ranks among Nigeria’s most prominent oil magnates, with interests spanning energy and finance, a stature that has particularly amplified public attention surrounding this family dispute.
But beyond the courtroom victory lies a broader issue confronting many family-owned enterprises in Africa; which borders on succession planning.
As wealth passes across generations, disagreements over share transfers, dividend rights, and corporate governance frequently arise.
Another key consideration in succession planning is the validity of internal decisions and whether shareholders were properly consulted before major financial actions were taken.
For now, one conclusion stands out: what began as a family disagreement over dividends has evolved into a landmark corporate showdown which reminds everyone that even vast oil fortunes cannot shield families from the complex realities of governance, inheritance, and accountability.
With additional files from The Africa Report
MA
Understanding Ghana’s stock market and how to invest | BizTech
Source:
www.ghanaweb.com