Equity Bank CEO James Mwangi moves to block arrest over Muthaiga land deal
Equity Group Managing Director and CEO Dr James Mwangi at the Equity Centre in Nairobi on Monday, October 25, 2021.
Equity Bank chief executive officer James Mwangi has secured a court order blocking his possible investigation or arrest over a disputed multi-billion shilling property in the high-end Muthaiga estate in Nairobi.
Justice Hedwig Ong’udi granted Mr Mwangi a temporary order stopping any arrest or questioning and transferred the constitutional petition to the land court, which is handling the Muthaiga land dispute.
The Equity Bank CEO filed the constitutional suit on July 21, seeking to block the Director of Public Prosecutions, Noordin Haji, and the Director of Criminal Investigations, George Kinoti, from arresting or charging him.
An arrest of a serving top bank executive has the potential to test the Central Bank of Kenya (CBK) rules that guide the fitness of directors and senior managers.
Documents filed before the lands court show that Mr Mwangi and Mount Pleasant Director Anverali Amershi are both laying claim to the property.
Mr Karmali claims he bought the three-acre parcel from former Finance minister Arthur Magugu and his wife, Margaret Wairimu, at Sh130 million on July 21, 2006.
