Industry, Trade, and Cooperatives CS Peter Munya, on Thursday, directed the Commissioner of Cooperatives to stop the embattled Ekeza Sacco, owner David 'Gakuyo' Ngari, from selling its properties.
The CS made it clear that his order was hinged on the possibility of the Bishop failing to reimburse the disgruntled Sacco members following the sale of the properties.
“I am not convinced that the proceeds of the sale will be used to repay the members,” he explained.
The government intervention follows Gakuyo’s move to put his properties up for sale in order to pay money owed to members of the Sacco.
They include a residential property within Nyari Estate near Village Market in Nairobi, a hotel in Juja and a house on half an acre land along Thika-Garissa road in Makongeni.
Munya also refuted Gakuyo’s claims that the Sacco accounts had been frozen thereby inhibiting his ability to repay the members.
“The accounts are still operating with the Commissioner of Cooperatives as a signatory. It is through this arrangement that the ministry has realized a payment of Ksh116 million to over 2,000 members with less than Ksh75,000 in deposits,” he affirmed.
Gakuyo had assured members who had stormed into his church compound last Sunday, that each one of them would be compensated following the sale of his properties.
Munya urged members to exercise patience as the ministry carried out various inquiries and legal processes.
He added that mobile service providers that had continued to remit funds into the Sacco after it was placed under government receivership in April 2018, would be prosecuted.