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Yote Ni Vanity! Debt Ridden Cyrus Jirongo Declared Bankrupt


Cyrus Jirongo Bankrupt President Note Currency Tassia Kills
When a man who the Central Bank of Kenya made a note and had it specially named after him is declared bankrupt, you start to believe that times can truly rid us of those we thought we indispensable.
Former Lugari MP and 2017 presidential candidate has been declared bankrupt by a Kenyan court after financial difficulties rendered him unable to clear his more than 700 million debts owed to eight companies.
In a case heard by Judge Olga Sewe, it was directed that an official receiver be appointed as a trustee to his estate.
Baia Enterprise Limited, Gilera Limited, Koti Developers, Saman Developers Limited, Linsala Enterprises Limited and Masole Limited had moved to court after their properties were auctioned by the National Bank of Kenya to recover a 700 million debt owed to the bank by Cyrus Jirongo.
Jirongo had secured a loan using the properties registered under the names of the eight companies owned by businessman Sammy Boit Arap Kogo.

READ: Bankrupt Jirongo Will Not Vie For Repeat Elections: IEBC Confirms

Jirongo had agreed to pay Sammy some 700 million shillings which was the value of the properties National Bank of Kenya had auctioned.
Sammy moved to the courts after the said amount couldn't be serviced by the politician.
Cyrus Jirongo lost the Kakamega senatorial seat to Boni Khalwale by a big margin and then lost the presidential election by even a bigger margin. He has since bent the knee to president Uhuru Kenyatta.
Jirongo was a very famous man back in the 90s where together with deputy president William Ruto, slain businessman Jacob Juma and others formed a very powerful youth wing of KANU that campaigned for the reelection of Moi after Kenya became a multiparty democracy.
He controlled massive wealth in the real estate business and is said to be among the very first tenderpreneurs in the country.
He later fell out of favor with Moi and many of his former allies in the Youth for Kanu umbrella which was later disbanded.

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