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September 23, 2018

Official Receiver holds the truth to Ruaraka land

Francis Mburu, the director of Hue Lands Ltd and Afrison Imports and Exports Ltd when he appeared before the Senate County Public Accounts and Investments Committee on the inquiry into the 3.2 billion shillings Ruaraka land dispute on which Ruaraka Secondary School and Drive Inn Primary School sit. April 30, 2018. Photo/Jack Owuor
Francis Mburu, the director of Hue Lands Ltd and Afrison Imports and Exports Ltd when he appeared before the Senate County Public Accounts and Investments Committee on the inquiry into the 3.2 billion shillings Ruaraka land dispute on which Ruaraka Secondary School and Drive Inn Primary School sit. April 30, 2018. Photo/Jack Owuor

Investigations into the Ruaraka land saga read like the script of a dramatic Hollywood blockbuster.

A lot has been divulged and we need a dénouement, a conclusion.

Top government officials have been dragged in and silent tycoons yanked into public in what appears like an endless comedy of errors by a government buying its own land.

As it stands, only the Official Receiver can pull the plug on this circus.

It is a fact that the land in question was charged to Continental Credit Finance Limited for two loans of Sh186 million. Afrison, the borrower, defaulted on the loan. To date, the original ownership documents are with the Official Receiver.

Banks, even those under receivership or liquidation, are usually quick to recover bad loans. Why did the Official Receiver not auction the land to recover the defaulted loan?

Assuming the government had occupied the land by force, why didn't the Official Receiver claim compensation for compulsory acquisition? The payout would have eased the depositors’ pain.

Why was it the borrower, and not the Official Receiver, claiming compensation from government? Was there a legal arrangement? Was it in writing? If the loan was repaid, whether partially or in full, why is the Official Receiver still in custody of the ownership documents?

The answers to these questions will unravel the truth and bring the Ruaraka land circus to a halt!

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