A Nigerian court has ordered an oil company founded by businessman Muhammadu Indimi to pay $43.51 million to two of his daughters, in a ruling that has brought a long-running family dispute into the public eye.
The judgment, delivered by the Federal High Court of Nigeria, directs Oriental Energy Resources to pay the sum to twin sisters Ameena and Zara Indimi over what they described as unpaid dividends.
According to court filings, the sisters argued that they jointly held a 10 percent stake in the privately owned oil company. They said they were entitled to a share of dividends from a reported $435 million profit distribution linked to the company’s offshore operations.
However, they told the court that their shareholding was reduced without their consent. As a result, they said they were excluded from receiving millions of dollars during the dividend payout.
The court ruled in their favor, ordering the company to pay $43.51 million.
According to Business Insider Africa, the case has drawn attention in Nigeria and beyond because of the size of the award and the prominence of the family involved. Indimi is one of Nigeria’s best-known oil entrepreneurs, and his company has long operated as a major private player in the country’s energy sector.
Family-controlled firms play a significant role in many African economies, yet ownership structures and internal financial arrangements are often not publicly detailed. The ruling offers an unusual glimpse into how disputes over control and profit distribution can unfold within such businesses.
While the court has made its decision, the legal process may not be over. Appeals are possible, and the enforcement of the ruling could take time.
Beyond the immediate payout, the judgment may influence how large, family-owned companies across the region approach governance, shareholder rights, and internal transparency.