Court bars Ngirita from accessing Sh 226m in KCB account

Piece by: star.writer
Lifestyle

The High Court has once again blocked Phylis Ngirita from accessing money held in her account with the Kenya Commercial Bank.

Justice John Onyiego issued the order following an application by Opportunity Kenya Limited claiming that Ngirita acquired a loan of Sh800,000 from them by offering her car as security.

The money was deposited in her KCB account number 1109800584. Ngirita has since defaulted in repaying the loan.

The Assets Recovery Agency holds the original logbook of the Toyota station wagon.

Opportunity Kenya, through lawyer Isaac Omeke, wants the court to issue an alternative order directing the bank to release the proceeds in Ngirita's account to them.

It says it was reasonably believed and misconstrued by the Assets Recovery Agency that the proceeds in the account were fraudulently acquired from the National Youth Service.

The agency, according to Opportunity, says their only interest is in the forfeiture of the asset motor vehicle that secured the loan.

“There is imminent danger that the agency shall dispose of, transfer and waste the said motor vehicle or Ngirita shall proceed to withdraw and utilise the funds in KCB unless court issues preservation orders as prayed,” the lender said in court documents.

It is registered under the Companies Act with the mandate of identifying and advancing loans to qualified individuals and companies.

The judge directed that the application be heard on July 15.

The Ngiritas have denied fraudulently receiving payments from NYS for goods not supplied before the anti-corruption chief magistrate court.

The prosecution claims the Ngiritas received Sh226 million through their companies and personal accounts, which were split into several transactions.