Nigerian billionaire and oil magnate Mohammed Indimi is enjoying a significant financial turnaround after a challenging 2024. Despite experiencing a loss of $3.93 million due to a dip in his shares in Jaiz Bank last year, Indimi’s fortunes have reversed dramatically in 2025, with his stake in Nigeria’s leading Islamic bank appreciating by $8.3 million so far.
Indimi, the founder of Oriental Energy and the largest shareholder in Jaiz Bank, currently holds a 29.36% share in the banking institution, now valued at nearly $34 million. The impressive rebound is attributed to Jaiz Bank’s robust financial results for the year 2024, coupled with a sharp rally in its share price on the Nigerian Exchange.
Key factors behind the bank’s strong performance include a more than doubling of its 2024 profit, assets surpassing $700 million, and a remarkable increase of over 90% in deposits. These gains have positioned Jaiz Bank as one of the top performers among its peers in Nigeria’s banking sector this year.
Indimi’s resurgence in the financial markets underscores the resilience of strategic investments in Nigeria’s growing Islamic banking industry, highlighting renewed investor confidence and the bank’s expanding footprint in the country’s financial landscape.
This upward trajectory signals a promising future for both Indimi’s investments and the expanding Islamic banking sector in Nigeria.