Bishop David Gakuyo Asks Gov't to Allow Him Sell Sh1.8 Billion Property to Refund Ekeza Sacco Members' Savings

Ekeza Sacco founder Bishop David Kariuki Ngari, alias Gakuyo, has asked the government to allow him to sell his properties in Nairobi, Kiambu, and Murang'a to enable him to refund members' savings.

Gakuyo has faulted Trade, Industry and Cooperatives Cabinet Secretary Peter Munya for blocking him from selling the properties, saying the decision was ill-advised.

He says the move is ironical because the same Ministry has been pressuring him to refund members' savings.

Gakuyo also says Munya’s claims that there's no guarantee he will refund members once he sells the properties are unfounded.

“I want the CS to know that the funds will be deposited in the Ekeza Sacco and used to refund members,” says Ngari

“The commissioner of cooperatives is a signatory of the account which means no money can be withdrawn without her consent.”

Ngari says the property he is seeking to sell has a combined value of Sh1.8 billion.

Gakuyo opted to sell the properties following pressure by members of the Sacco, who have been camping at the society's offices and his church, demanding a refund of their deposits.

The properties include a residential house in Nyari estate, Nairobi, a hotel in Juja town and a house on a half-acre parcel of land in Makongeni estate, Thika.

Others include a 50-acre parcel of land in Kilimambogo, Thika, 100 acres in Kabati, Murang’a, and a quarry, also in Kabati.