News Break
Jubileee Secretary General Hon. Raphael Tuju also the Cabinet Secretary without portfolio has this morning deposited 50 million to save his Karen property from being auctioned.
The deposit follows an order by the court of Appeal last month that directed Tuju to pay a deposit of 50 million failure to which his assets would be auctioned by the East Africa Development Bank.
The dispute between Raphael Tuju and the East African Development Bank dates back to April 10, 2015 when the cabinet secretary without portfolio, through his company Dari limited borrowed a loan from EADB. The lender agreed to give the entity 943 million Kenya shillings.
The said loan has accumulated huge interests as a result of the many defaults by the company and Mr. Tuju owes them 1.6 billion Kenya shillings.The 50 million deposit now gives the cabinet secretary the benefit of retaining his Karen property while arguing the dispute in court until the matter is fully resolved.
