Gov't Stops Bishop Gakuyo from Selling His Property to Refund Ekeza Sacco Members' Savings

Gov't Stops Bishop Gakuyo from Selling His Property to Refund Ekeza Sacco Members' Savings

Trade and Cooperatives Cabinet Secretary Peter Munya has stopped the planned sale of prime property by Ekeza Sacco founder and chairman Rev. David Kariuki Ngari alias Gakuyo.

Earlier this week, Ngari announced he is selling some of his properties in Nairobi, Kiambu, and Murang'a Counties in order to refund Ekeza Sacco members' savings.

“I want to assure all the 53,000 members of Ekeza Sacco that no one will lose his or her money."

“All those who want their money refunded will get it back and that’s why I put up for sale all properties that I have so that I can raise the money to repay back your money,” said Gakuyo while addressing aggrieved Sacco members.

Gakuyo Real Estate, a sister company to Ekeza Sacco, has since placed an advert in one of the local dailies listing some of the properties it is seeking to sell.

They include a rental apartment in Nyari Estate near Village Market in Nairobi, a hotel in Juja and a house along Thika-Garissa road in Makongeni.

Others are 50-acre parcel of land in Kilimabogo Thika, 100 acres of land and a quarry in Kabati, Murang'a County.

However, CS Munya says he has stopped the plan saying that he's not convinced that cash raised from the sale of the properties will be used to repay the society's members.

“I am not convinced that the proceeds of the sale will be used to repay the members,” says Munya.

Munya has also dismissed Bishop Gakuyo's claims that the Sacco's bank accounts were frozen.

“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 Sh116 million to over 2,000 members with less than Sh75,000 in deposits,” states Munya.

Ekeza Sacco has a membership of more than 50,000 with 5,000 of them being Kenyans in the diaspora. It has 26 branches across the country and Sh2.56 billion in deposits.

 

Comments

Mugikuyu (not verified)     Fri, 02/01/2019 @ 12:11pm

These so called men of God will make you run for the hills. Then the CS has pounced on the money. Who is the bigger devil or the savior? Only time will tell. For diasporians, they will never see a coin. Sharks are everywhere.

Anos (not verified)     Fri, 02/01/2019 @ 12:43pm

Didn't see this coming. It could be he wanted to dispose of the properties and run. Munya saw this and had a better idea.

When I used to listen to Kameme, they used to have adverts and promotions all the time, and gave this guy so much airtime in interviews. I think that may have lured many into buying into the con. Hope everyone gets their hard earned sweat back.

Mbwana (not verified)     Fri, 02/01/2019 @ 12:59pm

Its about time religious organization should ban their clergymen and women on doing private businesses outside the institutions.

mkenya halisi (not verified)     Fri, 02/01/2019 @ 04:56pm

I remember i lost monies when mandoff went bankrupty n I think he ment well to his customers from the start but down on the line he became greedy n many lost monies?So this shit happens all over the world so it's not news but i have a problem when the so called church involves itself with bizness.Churches in the usa r bizness individuals entity's n they have continued to steal ppls monies right n left the same with za hapa kenya with projects zenye haziishi?Mr Gakuyo u need to pay pples monies if ur really the man of God but only time will tell.

One2ManyDayz (not verified)     Fri, 02/01/2019 @ 10:48pm

In reply to by mkenya halisi (not verified)

@mkenya halisi Even as you try to rationalize gakuyo using usa churches and Madoff scandal, where is this Madoff man? and where is gakuyo man? The last sentence suggest that you do not see madoff scandal in gakuyo even after losing to madoff.

Chris (not verified)     Sat, 02/02/2019 @ 06:23am

Hi, let us not blame the bishop. He was doing genuine business like any other businessmen. His purpose was for people to own property and his advice has helped many people. What has happened can happen to anyone of us. The only problem is that he was unable to separate business matters from personal matters and this misappropriation of people's fund. Instead of condemning him, let's learn from his mistake and pray for him that he will be able to raise above this predicament.

Kenya (not verified)     Sat, 02/02/2019 @ 09:53am

In reply to by Chris (not verified)

@Chris, your comment makes no sense. If he was unable to separate business matters from personal matters he should not have been taking people money. Then he is a con-man who took people money for his personal benefit. This cannot happened to anyone of us. It can happen only to con-men. This is not an accident yenye haina kinga.

Muchiiri (not verified)     Sat, 02/02/2019 @ 12:55pm

Let's give gakuyo the benefit of doubt.too many times wa Kenya we rush to condemn people unheard.am not an apologist for the bishop but I think the intention were good.y not supervise the said sale near put the money in an escrow account from which all ekeza members can be paid?

Anos (not verified)     Mon, 02/04/2019 @ 09:50pm

In reply to by Muchiiri (not verified)

Ha, you are so naive my bratha. Now, if the funds did not accomplish the purpose they were intended for and the good Bishop didn’t correct the situation until our secular law took intervened, what do you call that?

Mjuaji (not verified)     Sat, 02/02/2019 @ 12:58pm

I smelt a rat and tried to warn my fellow diasporans but they couldnt listen. Imagine this was buying upto two hrs of airtime at Jambo Radio Network apart from kearning later on that he had spread his tentacles to ALL Kenyan media stations. I remember how he used his robe to convince US diaspora how he could help them own plots at somewhere at Kenol, Thika and Kabati bra bra bra. Fools fell prey. All Kenyans are potential thieves, including you and me. Now the next bombshell will be Optiven. Watch this page.

muragz (not verified)     Sun, 02/03/2019 @ 03:34am

I hear you guys but I think kameme and other media doing the advert should carry part of the blame. they messed Kenyans Kabisa. uii now who will rescue us. Politicians are eating without mercy. Now the clergyman. Sisi kwisha

Andrew (not verified)     Mon, 02/04/2019 @ 02:45am

Am a victim of this scandal but I can tell you my worry is not with Gakuyo bt the saviour!insticts tell me it'll be a matter of out of the frying pan...! Am patient though.

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