Jirongo fights CBK bid to recover Sh495m Dubai Bank loan

Businessman and politician Cyrus Jirongo has moved to court challenging a decision by the Central Bank of Kenya (CBK) to place his company under receivership over Sh495 million that it owes the collapsed Dubai Bank.

The Kenya Deposit Insurance Corporation (KDIC), a CBK agency, placed Mr Jirongo’s Kuza Farms & Allied Limited under receivership alongside other companies that had defaulted on their loans at the time the lender was placed under statutory management.