A Nyeri Governor aspirant in the Jubilee Party has petitioned the courts to bar a financial institution from auctioning his Sh25 Billion property.
The gubernatorial aspirant, Githinji Kinyanjui, claims that the financial institution has engaged in malicious and illegal acts to damage his reputation and that of his company.
Mr Kinyanjui claims that the dispute dates back to March 2015 when his company – Green Africa International Limited – approached Jamii Bora Bank for a loan to purchase a piece of land valued at Sh1.3 Billion.
The bank issued him with a Sh369 Million loan and both parties agreed on the mode of repayment.
"The agreement was that we would subdivide and develop the property, and use the sale proceeds to finance the loan," Kinyanjui narrated.
The bank, Kinyanjui claims, would later violate the terms of the agreement by issuing a notice to members of the public warning them not to buy into the Madiba Gardens Property because they had an intention to auction it.
"We have at all times complied with the terms of the loan and were surprised when the bank put a caveat on the property warning members of the public not to purchase any portion of the estate, and put a notice of their intention to auction it," he reiterated.
The business man further accused the bank of hindering his bid for the Nyeri gubernatorial seat by writing to the Independent Electoral and Boundaries Commission (IEBC) and Jubilee Party purporting that he is unfit to hold public office after failing to repay the loan.
