Popular televangelist Pius Muiru is facing the possible auction of prime properties used to secure a KSh216 million bank loan, as a legal dispute over the outstanding debt intensifies.
Loan Secured Against Prime Assets
Muiru, founder of Maximum Miracle Centre, obtained the loan in 2010 using several properties in Nairobi, including land parcels and rental units reportedly valued at about KSh960 million at the time.
The loan was structured for repayment over 84 months at an interest rate of 14.5 percent on a reducing balance, with a 6 percent penalty in case of default.
Dispute Over Loan Repayment
Court documents indicate that Muiru and his wife have already paid KSh350.6 million—significantly more than the original loan amount.
They now claim the bank overcharged them by KSh122.8 million, arguing that the actual outstanding balance should be approximately KSh27.9 million.
Their claims are supported by an independent financial recalculation, which sharply contradicts the lender’s assessment.
Bank Maintains Debt Is Higher
The lender, however, disputes the figures, stating that the loan fell into default between September 2011 and September 2016, leading to the accumulation of interest and penalties.
According to the bank, the outstanding amount stood at over KSh150.8 million as of September 2020, with all charges applied in line with the loan agreement.
Financial Struggles Cited
Muiru attributes his financial challenges to declining income from his ministry following the COVID-19 pandemic in 2020, which he says significantly affected his televangelism operations.
Court Halts Auction
Through a court application, Muiru is seeking to block the auction, accusing the bank of acting fraudulently and without legal justification.
The High Court has temporarily halted the planned sale of the properties, which he co-owns with his wife.
Case Set for Hearing
The matter is scheduled for hearing on July 8, 2026, where both parties are expected to present arguments over the actual loan balance and the legality of the recovery process.
The case highlights ongoing disputes between borrowers and lenders over loan terms, interest calculations, and enforcement procedures in Kenya’s financial sector.
