Thursday, October 1, 2020 – Nakuru Town West MP, Samuel Arama’s Ksh25 million home is set for auction, after he failed to pay a Ksh3 million loan he secured from a local bank.
Leakey’s Auctioneers were directed to recover the loan by selling the property sitting on a Ksh 0.51 acre plot.
The MP is also set to lose four residential blocks located near his home.
The property registered under his wife’s name will be sold on Wednesday, October 21, at the Nakuru General Post Office parking yard.
Arama lost a case against the local bank after he failed to convince the court not to authorize the sale of his property in 2017.
The MP joins a list of politicians whose properties are facing auction.
Jubilee Secretary General, Raphael Tuju, is fighting to save his Ksh1.6 billion property after a bank filed suit to repossess it.
Former Cabinet Minister, Gideon Ndambuki’s land, based in Machakos, was also listed for auction after he failed to fully repay his Ksh5 million loan.
This comes even as the Central Bank of Kenya (CBK) announced the resumption of the Credit Reference Bureau (CRB) listing for loan defaulters.
The Kenyan DAILY POST