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Waters Get Murkier For NACHU As Another Director Disowns Ksh2.8 Billion Land Deal

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Image used for illustration only. [PHOTO/ COURTESY]

Things are getting murkier for National Co-operative Housing Union (NACHU) Limited in the Ksh2.8 land deal, even as a second director of New Pillion Estate Limited disowned the deal.

Mary Wanjiru Gicheru, the widow of Peter Gicheru, now says she is not aware of a board meeting that authorised the transfer of 402-acre piece of land in Kiambu from New Pillion to NACHU.

“There was no board resolution to sell the suit property while the agreement done by M/S Thairu and Company Advocates does not meet the Law Society of Kenya conditions of sale and this is sham. Strangers have got into possession of the suit property without permission of shareholders,” Wanjiru’s affidavit dated April 22, 2021 reads.

It was alleged that New Pillion Estates Limited had entered an agreement to sell the land to NACHU for Ksh2,814,000,00 or Ksh7 million per acre on March 30, 2021.

However, a disgruntled director, Mary Njoki Thuku, the widow of Stephen Thuku Mungara, filed a case at the Environment and Land Court in Thika alleging that the land was fraudulently transferred, without payment from NACHU.

According to the sale agreement, NACHU was to pay 30 per cent upon carrying out a successful search at the registrar of companies, receiving audited copies of accounts for 2020 and actual returns and carrying out a search at the land registry.

Read: Former Police Commissioner Bernard Njiinu Roped In In A Ksh2.8 Billion Land Saga

Also, 10 percent was to be paid on or before May 7, 30 percent by June 30 and the balance of 30 per cent by July 31, 2021.

However, before the amount was paid, the land had been transferred to NACHU and Kiambu County government gave a permit for subdivision of the land.

Before members of the shareholders of New Pillion Estates Limited knew of the development, NACHU was already offering plots for sale to members of the public.

At the centre of the saga is former police commissioner Bernard Njiinu, who has been accused of irregularly transferring the land to NACHU.

Njiinu is a director at New Pillion Estates Limited, which is among 900 housing societies listed with NACHU.

The land parcel L.R No. 11295 (original No. 119/2, 4586 and 48930) is owned by New Pillion Estates Limited, whose shareholders include Mr Njiinu, the late Peter Gicheru, late James Kamau Thiongo and John Kiereini Kireka.

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Written by Francis Muli

Follow me on Twitter @francismuli_. Email francis@kahawatungu.com

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