Billionaire Mohammed Indimi in the News Again

These are not the best of times for the founder and chairman of Oriental Energy Resources (OER), Mohammed Indimi. Based on a recent ruling by a Federal High Court in Lagos, the businessman’s company has effectively been banned from attempting to access the money in his bank accounts, all of this because of an allegation that he is owing around 1.5 million dollars to another Nigerian company, Uniterm Nigeria Limited.

Indimi is one of the most accomplished businessmen in Nigeria. Owing to his business smarts, he has been able to build up something of an empire stretching from Northern Nigeria to other parts of the country. Moreover, Forbes capped his net worth at around USD1.5 billion, the same amount that Uniterm has accused his company, OER, of owing them.

From the reports on the court case, Indimi’s OER is in a tight bind because of the accusations of Uniterm. OER reportedly secured the services of a drilling company in May 2021 and failed for all the services covered by the company. As a result, the company stopped the drilling services while waiting for OER to resolve its outstanding. But it still has not, and so the company had to involve the court.

As a result of the evidence provided by the complainant, the Federal High Court in Lagos agreed to restrain OER from withdrawing, transferring, and removing any of its funds, properties, or assets from banks, unless it is approved by the court or is directed towards the payment of salaries.

So, things are not looking good for Indimi and his company. Last April, the businessman had to fly to Tamale to mourn with his Ghanaian friend, Aliu Mahama, who lost his wife. So, from that sorrowful incident to this one, the businessman must have great expectations for this year.