Centenary Bank, Mukono branch is on spot for allegedly failing to return a land title belonging to one of its clients which he had given to the commercial bank as collateral for a loan worth Shs15 million.
Fred Festo Kiggundu Zirimala, a resident of Ntinda zone in Goma division told this website that he gave out his land title of block 110 plot 258 in Seeta, Mukono Municipality to Centenary Bank when he was getting a loan, however, after repaying the loan, the bank refused to return what rightly belongs to him.
According to Zirimula, the bank loan’s department gave him a loan on 29th March 2011 and he immediately started paying back as per the agreement; It contained some hard terms and conditions which prompted him to pay as he was required.
“I paid the money in installments up to 2014. But along the way i got sick and this highly distracted my flow of payments yet I was only remaining with a balance of Shs3 million. Unfortunately, during that time the loans department continued to accumulate the loan from Shs3 million to Shs10 million as a penalty for delaying the payment,”said Mr Zirimula.
He added that when his daughter Juliet Nantongo noticed that the loan had accumulated, she decided to write to the bank management on May 31, 2019 asking them to allow her to start paying her father’s loan balance using her account which is the same bank.
The bank administrator accepted her request and she paid the remaining balance intending to save her father’s land from the bank.
“When my daughter went to receive the land title the bank refused to hand it over to her and asked her to call me since they wanted to hand it over to me face to face basing on the fact that i was the owner.”
Despite his sickness, Me Zirimala forced himself and went to the bank to receive his land title however, the bank has up to now refused to give it back.
“I’m still sick that is the truth, however, my daughter decided to pay off all the balance but I don’t see why up now they have refused to give me the land title,” he said.
Speaking to website,Geofrey Kalumba the manager Centenary Bank Mukono branch said that he is of the Zirimala’s issues and promised to handle them so that Zirimala get his land tittle back.
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