Court orders Eco Bank Kenya assets be auctioned over Ksh.284M owed to late Minister Mbiyu Koinange

The High Court has ordered the auction of movable property belonging to Eco Bank Kenya Limited to recover Ksh.284 million owed to the estate of the late Cabinet minister Mbiyu Koinange.

According to court documents, the registrar directed Moran Auctioneers to attach and sell the bank’s property after giving a 15-day notice and making due proclamation. The orders were issued on September 19, 2025, in Succession Cause No. 527 of 1981.

"You are further commanded to return this warrant on or before the 18th day of November 2025 with an endorsement certifying the day on which and manner in which it has been executed, or why it has not been executed," reads the order in part.

The directive stems from an earlier ruling delivered on June 26, 2025, by Justice E.K. Ogolla, who found that Eco Bank had irregularly and unlawfully permitted withdrawals from an account belonging to the Koinange estate.

Justice Ogolla ruled that the bank must reimburse the estate Ksh.284 million plus interest accruing from the date of deposit.

The estate had moved to court in March 2024 seeking to compel Eco Bank to account for the missing funds and to disclose the beneficiaries of the contested withdrawals.