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Dividend Row: Indimi Twins Win $43.51 Million Court Judgment Against Their Father.
Nigerian billionaire oil tycoon Mohammed Indimi has faced a significant legal defeat after his twin daughters, Ameena and Zara Indimi, won a $43.51 million judgment in a long-running dispute over alleged unpaid dividends from the family-owned Oriental Energy.....KINDLY READ THE FULL STORY HERE▶
According to Africa Business Insider, the Federal High Court ruled that the company must pay the sisters in full, bringing a long-simmering family conflict into the public eye.
The dispute reportedly began when the twins claimed they had been excluded from a sizable dividend pool. They asserted that they jointly owned a 10% stake in Oriental Energy, entitling them to a proportional share of the company’s payouts. However, they alleged that their ownership was reduced without their consent, effectively blocking them from receiving millions of dollars tied to the firm’s offshore oil operations.
Court filings revealed that the sisters argued these changes were neither transparent nor agreed upon and deprived them of income legitimately accruing from the company’s performance.
The Federal High Court agreed, ordering Oriental Energy to pay the full $43.51 million. While details of the calculation and payment timeline remain undisclosed, the ruling strengthens the twins’ position and could set the stage for further legal actions, including appeals or enforcement proceedings that may take months.
A Family Empire Under Public Scrutiny
The case has drawn attention because it provides a rare insight into a major privately held Nigerian oil company. Oriental Energy, with offshore interests in the Niger Delta, is a cornerstone of Indimi’s business empire and one of Nigeria’s prominent private upstream oil firms, where ownership structures and financial details are usually private.
Although the Indimi family has historically kept its business affairs private, the scale of the sums and the prominence of the parties have made this dispute a national talking point. Reports suggest the conflict may involve other family members, with disagreements over dividend allocations and whether prior payments to relatives were gifts or buyouts affecting entitlements.
Mohammed Indimi, with extensive interests in energy and finance, is regarded as one of Nigeria’s leading businessmen, and his prominence has amplified public interest in the case. What started as a dispute over missing dividends has now evolved into one of Nigeria’s most closely watched family corporate conflicts.
The Federal High Court’s decision not only resolves a major part of the dispute but also raises broader questions about governance, transparency, and succession planning in family-owned businesses within the country’s oil and gas sector.
.....KINDLY READ THE FULL STORY HERE▶
Minister of the Federal Capital Territory (FCT), Nyesom Wike, has announced that the FCT University of Science and Technology in Abaji will begin operations during President Bola Tinubu’s administration.
Wike made the revelation on Tuesday while on a thank-you tour of Abaji Area Council, appreciating residents for supporting Tinubu’s candidates in the February 21 FCT area council elections.
He noted that the FCT Administration is already putting in place the necessary infrastructure and essential facilities to ensure the university’s successful launch.
Wike urged the community to remain patient, assuring that the university would become a reality within Tinubu’s tenure.
“From our discussions, it is clear how significant this university is, not only for the people of Abaji but for all FCT residents. It will create jobs and drive development in the community. I would be honored to officially open the university for operations,” he said.
The minister emphasized that his visit was to thank residents for keeping their promise to support the President, highlighting the importance of acknowledging positive deeds.
Describing politics as a reciprocal process, Wike stressed that the era of empty promises was over:
“Leaders must demonstrate their commitment to delivering good governance. You cannot make promises during elections and vanish afterward without fulfilling them. We asked you to support Tinubu, starting with the area council elections. On February 21, you came through, delivering 133 of the 135 polling units in the council for Tinubu. What more can we say but thank you? You have done your part; we will now do ours. Abaji people have spoken, and they spoke decisively,” he said.
Wike also praised the outgoing Abaji Area Council Chairman, Abubakar Abdullahi, describing him as a humble and dedicated leader.
The Governor of Oyo State, Seyi Makinde, has officially sworn in 17 newly appointed permanent secretaries.....KINDLY READ THE FULL STORY HERE▶
The announcement was made via his official X account on Tuesday, coinciding with the swearing-in ceremony. Governor Makinde urged the appointees to maintain high standards of public service.
Describing the appointments as “a call to higher service based on merit,” he highlighted that his administration has put in place a transparent, merit-based selection process that ensures broad representation.
He further charged the officials to perform their duties diligently, warning against letting personal interests influence their professional responsibilities.
The Senator representing Kano South, Senator Abdurahman Sulaiman Kawu Sumaila, has called the alleged rejection of his Ramadan rice gifts by some constituents a case of dangerous political blackmail orchestrated by his opponents.....KINDLY READ THE FULL STORY HERE▶
A viral video circulating on social media showed a group of politicians returning five bags of rice, claiming they were intended for the entire Albasu Local Government Area of Kano South Senatorial District.
Reacting to the incident, Senator Kawu Sumaila dismissed the rejection as a political stunt. He explained, “We distributed 500 bags to each LGA and provided for various groups and individuals, totaling nearly 15,000 bags. Somewhere along the line, some people were short-changed.”
He added, “They chose to go to the press to tarnish our image. We will handle the situation. This is politics. Whenever you work with people, such issues can arise. It’s a normal part of life, but it will not stop me from continuing welfare programs for my constituents.”
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