Former CBK Governor implicated in KES 9B Tatu City land scandal
15 May 2015, 08:15
Nairobi - Former Central Bank Governor, Nahashon Nyagah has been named in a KES 9 billion scandal involving land associated with Tatu City.
Kofinaf and Galba Mining Ltd, whose beneficiaries include Stephen Jennings and international owners have filed a lawsuit implicating him with the fraud.
It is alleged that he illegally transferred the over 900 hectares of land to relatives and friends.
Speaking at the press conference Thursday, Stephen Jennings said the challenges they are currently facing will derail the project but cannot stop it.
"We came to build the city and nothing has changed. We hope that the judicial system will act fast and conclude the case," he said, adding that it is hard to get good investment and economic opportunities if the wrangles persist.
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He added that the multi-billion project which is estimated to take more than 25 years to complete now needs a strong chairman.
Tatu City acting CEO, Anthony Njoroge said the construction is ongoing and once the project is completed, it will be transformational for Kiambu County and Kenya at large.
He said essential amenities such as electricity and water will be on sight by the end of the year.
The city is expected to create more than 50 000 jobs. It will also be home to 70 000 residents and 30 000 day visitors.
The case will be heard on June 12.
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