A family in Agoro West, Nyakach Sub-county, Kisumu, is accusing Faulu Microfinance Bank of fraudulently selling their land after they used the title deed as security for a loan.
Silpa Akech Ouma claims she took out a loan of Ksh 1,125,000 from the Faulu Microfinance Bank, Kisumu branch, on June 24, 2023, with a repayment period set to run until June 2026.
According to Ouma, she had been diligently paying the loan until June 2025, when she and her husband were shocked to discover the sale of their land, Title Deed No. 2473, through a newspaper advertisement placed by Watts Auctioneers Company.
The auctioneers allegedly sold the property on behalf of the bank.Ouma asserts that at the time of the sale, she had already repaid a total of Ksh 900,000 of the original Ksh 1.125 million loan.
Adding to the controversy, Ouma also alleges that the Awasi Land Registry removed a caution placed on the land without summoning her before the lands board.
”I am now calling upon the bank to follow the due diligence procedure for me to get a fair hearing rather than the actions the bank has taken of selling our land without our knowledge,” Ouma stated.
When a KTMN reporter attempted to reach the bank’s communications desk for comment via an official email, they declined, citing that the matter was already in court and they could not discuss a case under active litigation.
The family’s ordeal shines a spotlight on the often contentious process of property repossession by financial institutions, raising questions about transparency and adherence to legal procedures.
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