Former owners of Fidelity Bank are seeking Sh2.5 billion from the Central Bank of Kenya (CBK) and Mauritian bank group SBM Holdings amid claims that the banking regulator bullied the investors at night to sell the troubled lender for Sh1.
Sultan Khimji, one of the shareholders representing the owners, has petitioned the High Court to declare the 2017 forced buyout null and void, arguing that the CBK forced the directors to dispose of the bank for a song under threats of criminal charges, regulatory sanctions and closure.
