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Retired AIC Bishop Silas Yego’s multi-million-shilling apartment building in Nairobi’s Kileleshwa estate are set to be auctioned over Sh153 million debt.
Watts Auctions through a notice published in a local newspaper on Monday invited interested buyers to make bids for the residential units on March 22nd, 2021.
Access Bank, formerly Transnational Bank, has appointed the auctioneer to dispose of the property valued at over Sh200 million to recover the loan advanced to the clergyman.
Documents show that Bishop Yego borrowed Sh140 million from the lender in 2014 to build 50 apartment units but the project failed after third parties, who had committed to buy the apartments, bolted. The loan has since accrued interest of Sh13 million.
The houses stand on a 0.588-acre parcel of land situated at the intersection of Gatundu Road and Gatundu Crescent.
“On the plot stands an incomplete and abandoned residential apartment building which is designed to accommodate 3 bedroom flats on completion,” the notice reads.
Potential buyers are required to deposit at least 25 percent in cash or check at the fall of the hammer and pay the balance within 90 days.
Last month, High Court Judge David Majanja dismissed a fresh application by Bishop Yego, who was seeking to stop the auctioning of the property. Through his company Siro Investments, Yego wanted the court to block the planned sale for at least four months to allow him to repay the loan.
“According to the correspondence between the parties, the plaintiff has been in default since 2019. He has not met promise to settle the debt despite several offers by the bank to accept a settlement,” ruled Justice Majanja.
Bishop Yego, who was a close ally of former President Daniel Arap Moi, retired from the church leadership in 2019 after serving for 45 years.
Comments
Since when did church pastor and bishops start accumulating wealth like world people are we blind. Give all your money to the poor and needy but you guys build mansions instead as innocent givers sweat in working.Wolves in sheepskin. The plunder in the church is horror right now every corner a scam. Whether Moi was your friend he can't help you .Only God can help for those who seek him in truth.
The problem with gullible Kenyans is continuing to support such people in form of sadakas and other donations yet you know very well these are just conmen! Time you all wake up people and teach the rest of your local folks other than just blurting it here in mwakilishi!
Look at what is going on all Moi henchmen months after their death. Malipo ni hapa hapa. Mbinguni hakuhitaji wezi, wauaji, wafitina, na kadharika. Uliowatenda Wakenya hapa duniani walai mtayalipa hapa hapa, humu humu na mumu humu. Watasifiwa na wezi wenzio wakufapo, lakini ukweli wa mambo ni ule ule: hadi kizazi cha nne. Nje, yapi yanayoweza kumtosha mwanadamu hasa viongozi waliomkaribia Moi? Wakapora mali na uchumi wetu kiasi cha kwamba, Mjuaji alijiona akichakurakura Marekani huku akijitafutia riziki. Wakafirisisha makampuni ya umma kama vile KFA(KGGCU), KARI, KEMRI, KEFRI, KPLC, KPTC, ADC, na mashirika mengineo ambayo yalikusudiwa kuboresha maisha ya Wakenya kwa jumla. Lakini wote hawa wakajirundisha mali ya umma iwanufaishe wao, jamaa zao, marafiki zao na makabila yao. Swali ni wako wapi sasa? Bargetuny, Bore, Biwott, Ntamama, Moi, Arap Too, Chotara, Kihonge, Kamangara, Kamotho, GG Kariuki, Nyachae, Kiptanui, Arap Ngeny, Kemboyiyo, Lotondo, Koinange, Mbijjiwe, Shariff Nasir, Kones, Labosos, Kihika Kimani, Njenga Karume, etc. Utashangazwa huku ukijiuliza mbona wawa hawa wanaanguka kama nzige kwa muda wa usiopungua juma moja? Wakati tu ndio utakuwa muamuzi wetu.