A high-profile inheritance dispute involving one of Nigeria’s richest families has taken a fresh turn, with the legal battle over shares and dividends in Oriental Energy Resources continuing to attract attention across the country’s business and legal circles.
The latest development followed a judgment by the Federal High Court in favour of twin sisters, Ameena and Zara Indimi, in their suit over dividend payments from Oriental Energy Resources, the oil company established by billionaire businessman Muhammadu Indimi.
Delivering judgment, Justice Nkeonye Maha ordered the company to pay the sisters $43.51 million after ruling that they were entitled to dividends they claimed had been withheld following what they described as an unlawful reduction of their shareholding in the company.
The twins argued that they jointly owned a 10 per cent stake in Oriental Energy but alleged that their shares were diluted without their approval, preventing them from receiving dividends from a reported $435.1 million payout.
Despite the court victory, the dispute is far from settled. Oriental Energy has challenged the ruling at the Court of Appeal, maintaining that the transfer of shares was carried out voluntarily and that the sisters had already received payments under previous family arrangements.
The appeal means the case will continue, extending a legal battle that has brought family relationships, corporate governance and substantial financial interests into sharp focus.
Meanwhile, sources familiar with the matter say a new dimension has emerged in the case. According to Society Watch, Muhammadu Indimi has applied to be joined personally in the appeal proceedings, a move said to have surprised the twin sisters.
Insiders claim the billionaire believes his direct participation in the case could influence its tone, given the respect his daughters have for him. They believe his presence in the courtroom may ease the tension that has defined the prolonged legal dispute.
