The office of the Attorney General has confirmed that Equity Bank Chief Executive Officer (CEO) Dr James Mwangi is the right owner of a disputed land in muthaiga.
Senior state Council Allan kamau who appeared begore judge David Mwangi said that Dr. Mwangi holds an original title of the disputed land.
Mwangi said he bought the land in February 2012 at a cost of Sh 300 million through his company, Muthaiga Luxury Homes. He produced the sale agreement and transfer documents signed by the late Moi
He said that the documents which are available at the ministry of land and the registrar of companies shows that Dr mwangi is right owner of the disputed land.
Land Purchase Details
According to Mwangi’s testimony, he purchased the disputed 20 acres in Muthaiga from former President Daniel Moi in February 2012. The acquisition, done through his family company, Muthaiga Luxury Homes, cost Sh 300 million. Mwangi presented the sale agreement and transfer documents, both bearing the late Moi’s signature.
Loan Clarification
One of the noteworthy aspects of Mwangi’s testimony was his firm statement that he did not borrow a loan from Equity Bank for the land acquisition. The CEO emphasized his commitment to financial independence in the purchase, shedding light on the absence of bank financing in the transaction.
Legal Documentation
Ensuring transparency in the legal aspects of the land acquisition, Mwangi provided the court with crucial documents, including the sale agreement and transfer papers. The inclusion of the late President Moi’s signature serves as a key element in validating the authenticity of the transaction.
