Mustafa Indimi's Affidavit Escalates Family Feud Over $435 Million Dividend Dispute at Oriental Energy.

A significant development has emerged in the ongoing legal battle within the Indimi family over a $435 million dividend from Oriental Energy Resources. Mustafa Indimi, the eldest son of Nigerian oil magnate Muhammadu Indimi, has submitted an affidavit in defense of his father and the company, Oriental Energy. This move intensifies the dispute between the Indimi siblings, particularly his sisters Ameena and Zara, who have previously accused their father of reducing their stakes in the family business without their consent.

Background of the Dispute:
In late 2024, Ameena and Zara Indimi initiated legal proceedings against their father and Oriental Energy, alleging that they were misled into relinquishing significant portions of their shares in the company. The sisters claim that their individual 5% stakes were reduced to just 0.6% each, effectively stripping them of substantial equity and resulting dividends. They further accuse Muhammadu Indimi of using intimidation tactics to suppress their claims and deny them their rightful share of the $435.1 million dividend declared by the company in 2016. citeturn0search1

Mustafa Indimi's Role:
Mustafa Indimi's affidavit represents a pivotal moment in the legal proceedings. As a key figure within Oriental Energy, his support for his father's position could influence the outcome of the case. The affidavit likely provides insights into the governance and operations of the company, potentially countering the allegations made by his sisters.

Legal and Financial Implications:
The Indimi family's legal battle underscores the complexities of governance within family-owned businesses, especially in high-stakes industries like oil and gas. The dispute has not only attracted public attention but also raised questions about corporate governance, transparency, and the distribution of wealth within prominent Nigerian families.

As the legal proceedings continue, the involvement of Mustafa Indimi adds a new dimension to the family feud. The outcome of this case could set a precedent for similar disputes in family-run enterprises across Nigeria and beyond. Observers will be closely monitoring developments to understand the broader implications for family businesses in the region.