Peter Munyiri Sh30.6m gratuity loses value amid inflation during a six-year court battle over higher payout

Former Family Bank Managing Director Peter Munyiri 

Photo credit: File | Nation Media Group

When former Family Bank Managing Director Peter Munyiri Maina refused to take the Sh30.6 million awarded to him by the Employment and Labour Relations Court over six years ago, he had set his sights on growing the money by 86.1 percent to Sh57.06 million.

That was on June 14, 2019. Fast forward to November 28, 2025, and the Court of Appeal has delivered its verdict: it remains Sh30.6 million. The gist of the legal battle centred on the rate the bank used to calculate his five-year gratuity.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.