Nathaniel Muturi, a businessman based in Njoro is battling to keep possession of his land property from being taken over by a shylock.

While defending ownership of the two prime plots in Njoro valued at Sh 1.4 million, the businessman has accused the shylock identified as Peter Ndegwa Thiga of forcefully attempting to grab his property despite not having taken the loan.

In his narration before the Nakuru magistrates court, Mr Muturi said he had used the property ownership documents to secure a loan of Sh 30,000 before he later changed his mind.

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Mr Muturi in his testimony said he on June 3, 2009 visited the shylock's office namely Penacom Agency in Njoro in search of a soft loan facility to enable him take care of an emergency he was having.

The shylock asked him to present the documents as security for the facility.

After they confirmed the property the shylock gave him documents to sign containing terms of their agreement.

According to the terms of the agreement, the Sh 30,000 loan was to attract an interest of Sh 25,000 after a month failure to which the shylock would dispose the property to recover the money.

However, Muturi did not sign some of the documents including the original application form which Mr Thiga had already filled in.

When he informed his wife about the deal, she disapproved of its terms and advised him not to proceed as she would seek the money elsewhere.

"I called him to cancel the agreement but Mr Thiga frustrated the process. I even visited his office several times but he kept saying that he had forgotten the forms but assured me that all was well," said Mr Muturi.

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He was however, shocked when he visited the county offices in 2016 to discover that Mr Thiga had tried to claim the two market kiosks that belonged to him.

The plots were still registered under his name so he never gave it much concern.

But in 2020 he learnt that the said shylock was carrying out developments on the plots.

He instructed his lawyers to follow up with the matter in order to stop any further activities on the suits.

When he reported the matter to the police, Mr Thiga produced documents claiming ownership of the property including a sale agreement purportedly signed by Mr Muturi.

Investigations however proved otherwise leading to Thiga’s arrest and prosecution.

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The shylock is now facing two counts of forgery before court.

And he has on the other hand filed another case before senior Resident Magistrate Frida Nyota seeking to be declared the owner of the said property after maintaining its ownership.

opendajoseph@gmail.com

Man risks losing land over Sh 30,000 shylock drama

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Joseph Openda