Muhammed Indimi, the moneybag from Borno State seems to be facing some uphill situation at the moment and if care is not taken, the popular billionaire may go the ways of some richmen regarded as 'former billionaire' after going bankrupt.
Indimi controlled multimillion-dollar empires and made tens of millions more by reinventing himself over and over again. However, the trajectory of Alhaji Indimi’s finances now has him lamenting, albeit secretly and running from pillar to post for a quick redemption to his good old status.
A gentleman per excellence, the current messy state of Alhaji Indimi’s finances, sources squealed, is attributed to the alleged profligacy of her daughters who are the board of his oil company, Oriental Energy Resources Limited.
Sources claimed that, each of these daughters of Indimi, like the billionaire’s kids that they are, had distinct encounters with errant money management and rampant spending. It is believed that discipline was lacking because the billionaire ensures that the kids get all and the best they ask for. Besides, sources said that, exuberance was grossly on display by the daughters as they throw money around like it grows on the tree.
As a result, Indimi, a big player in the offshore sector of the Nigeria’s oil and gas industry, is not finding it funny, financially. Adding to his weight of financial turbulence is the global fall in the prices of crude oil which puts the strengths of oil companies in economic jeopardy.
Indimi, we gathered, also controls a major share in Afren Plc, an international independent exploration and production company with a premium listing on the London Stock Exchange. Indimi, who was ranked 37th richest person in Africa with a net worth of $670million in 2014, sources argue, may have to restructure his family spending and do a total financial overhauling of his oil companies, if he must stay afloat.
Before the current alleged downturn of his finances became a public item, sources squealed, the signs were already there in one of her daughters’ home front. Ameena Indimi, the eldest and Chief Operating Officer of Oriental Energy, had had her attempt to remarry truncated by her father on a flimsy reason. Ameena had been married to Muhammed Dalhatu. But the former husband sadly died due to accident he had on a motorbike. Those familiar with the Dalhatus had alleged that, it was not all rosy in between the couple close to the time the husband died. One day love, one day war it was, sources claimed.
The inside detail of the couple’s crisis, according to sources, was the late Dalhatu’s attempt to return to his first wife, Aisha Wushishi. And this did not go down well with Ameena, we were told, and the matter would constantly erupt and soon turned into big fight. It was, perhaps, the reason Dalhatu’s death was assumed as spiritual by the godless minds. It was also alleged that Ameena’s father did little to salvage her daughter’s crumbling first marriage.
Now, it was time for Ameena to remarry and she reportedly brought in a new man. The first day the Indimis met their new would-be son-in-law, squealed our sources, the father halted the progress of the union.
As we learnt, when the would-be new husband of his daughter was introduced to Alhaji Indimi, the first question the billionaire asked was ‘where are your parents’? The gentleman reportedly answered that he had no parents and promised to bring along his extended relations next time. According to our sources, not a word was uttered by Ameena’s father after the man’s submission, except that he ordered the cancellation of the meeting with immediate effect and the disbandment of the young lovers’ romance.
The Indimi’s children, we gathered, would compete to outdo themselves in plundering the resource of the oil company. The children include Jibrila, Ibrahim, Ahmed, Mustapha, Ameena, Amina, and Yakolo, who is married to Mohammed Babangida.
The reality is now dawning on their father as debtors are now tightening the noose around him to pay up debts running into 500million dollars. Alas, Indimi can’t pay up because the price of crude oil had plummeted and the billionaire is confused.
As things stand now, we learnt that Oriental Energy doesn’t have the fund for its exploration while Afren’s Stocks in the London Stock Exchange have lost 99 percent of their values. To make matters worse, the shareholders have voted against injecting more funds into the Oil Company as the world’s benchmark for oil price falls to less than $50 per barrel.