In October 2022, Senior Counsel Philip Murgor threatened to sue the NCBA Bank Group for listing him on Credit Reference Bureau.
Murgor alleged that he had been erroneously listed on CRB for failing to clear a Sh. 1,300 loan.
He accused the NCBA Bank of failing to verify if he had defaulted before listing him on the CRB. He claimed that this listing had prevented him from insurance financing for his law firm Murgor & Murgor Advocates.
Apparently, on September 23, 2022, Murgor sought Sh. 403,000 financing for his law firm from the NCBA. However, his application was rejected on the basis of the fuliza loan default.
Murgor said that he was called by two agents from NCBA who informed him of the loan application rejection. However, they both failed to disclose which institution had listed him.
He applied for a credit report from Metropol Corporation Limited which informed him that he had been listed by the NCBA.
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He argued that the phone number that was used to take the fuliza loan was in another individual’s name despite NCBA Bank Group stating that it was registered in Murgor’s name.
“NCBA at all material times failed to exercise reasonable skill and care before forwarding the false reports about our client for publication and general circulation, as it took no steps to ascertain whether or not our client had indeed opened, or operated a Fuliza overdraft account,” Murgor said in a demand letter to the NCBA.
“A preliminary and even casual enquiry would have confirmed that our client was not the legitimate owner of mobile number (withheld), and that he has not obtained a Fuliza overdraft facility under the said mobile number.”
In response, the NCBA Group said that it followed due process and sent several notifications to the number that took the loan.
Mr. Murgor, do you think this a samll problem? I dare say not! These Banks including Safaricom have fleeced Kenyans with their usurous loans and should be hit with a class action suit. Do you think you could put together lawyers of like minds to undertake this feat? I think it would create a first and it would also serve as a deterrent in future for these shameless Banks.