• A 90-year-old woman has written a letter to Family Bank, urging them to release the title of her prime property in Ruaka, Kiambu County
• The bank had previously scheduled an auction for June 8, 2018, citing an outstanding amount of Ksh.2 million
• The bank argued that Njoki had failed to honor her end of the agreement and urged the court to dismiss the case, citing the previous settlement through consent
A 90-year-old woman has written a letter to Family Bank, urging them to release the title of her prime property in Ruaka, Kiambu County.
The bank had previously scheduled an auction for June 8, 2018, citing an outstanding amount of Ksh.2 million.
In a recent development, Edith Njoki’s lawyer, Hans Oichoe, stated in a letter dated May 15, 2023, that his client had fully settled the loan on that same day, making a payment of Ksh.2,001,129.70. He insisted that Njoki had fulfilled her obligations and demanded the return of the property title.
Watts Auctions, the bank’s appointed auctioneers, had already announced their intention to auction the property on June 8, 2023, based on Njoki’s alleged failure to repay the Ksh.2,001,129.70.
The property in question has been valued at Ksh.25 million by the auctioneer. Njoki and Family Bank had previously engaged in a legal battle, but they reached a deal on December 17, 2021, stipulating that the bank would refrain from auctioning the property if Njoki met her repayment obligations.
According to the agreement, Njoki owed the bank Ksh.13 million as of December 16, 2021. It was agreed that she would first pay Ksh.2 million, followed by monthly instalments of Ksh.1 million to settle the remaining balance. The bank was required to provide an updated statement of account and disclose any recovery costs that could be deducted.
Njoki’s daughter, Ann Njambi, claimed that her mother had already paid an excess amount of Ksh.290,116. She also alleged that the bank had demanded Ksh.4 million without providing sufficient justification for the figure.
The dispute reached the court after an auction notice was published on November 14, 2022, in a local daily. Njoki asserted that she had fully cleared the outstanding amount owed to the bank.
The bank, however, argued that Njoki had failed to honor her end of the agreement and urged the court to dismiss the case, citing the previous settlement through consent.
The magistrate’s court presided over by Rawlings Liluma on May 5, 2023, heard both parties’ submissions and subsequently closed the file. The details of the ruling were not disclosed.
The current status of the property and the resolution of the dispute remain uncertain, pending further updates or clarification from the court.
