What happens when a person borrows on collateral of land or building in Riparian Land or Public Land?
The bank suffers.
Wenye mko na accounts KCB, hamisha pesa mapema.
When heads begin to roll, Hio bank itakuwa matatani
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Banks do extreme verification before charging properties…especially here in Nairobi. Am sure Nema, County, Min of Lands that time all okayed the construction.
Expect serious litigation and award of heavy damages if that hotel is ever brought down.
The bank officers are paid off to okay bypass the verifications. So are the regulatory officials. Everyone gets a cut. The owners of the bank are the sufferers.