It is a big blow to the National Bank of Kenya after the supreme court ruled that it pays former Taita Taveta Mp Bacil Criticos a whooping ksh 2.2 Billion for selling his land at an underestimated rate on 16 June.
The National Bank sold Criticos’s land fifteen years ago for fifty five million to recover the twenty million Bacil owed the bank.it was sold in 2007.
The court established that the 15,994.5 acres of land was unlawfully auctioned . Three judges of kenya’s highest court, Justices Patrick Kiage , wanjiru Karanja and Roselyn Nambuye gave the ruling.
The court dismissed a notice of motion for review filed by the bank in a case involving the parcel of land in question.The court said the notice of motion lacked merit as the applicants failed to raise any issues.
Since the applicants did not raise substantial questions of law the notice of motion dated 22 December 2022 was dismissed.The court ruled that the cost of applications be beared by the applicants.