The Excellence School, a pre-primary, Primary and High School located in Lavington, Nairobi is crying foul after the Co-operative Bank of Kenya allegedly tried to fleece its resources.
According to the documents seen by Dailytrends.co.ke, the school has been repaying a loan facility on asset finance under the Co-operative Bank.
The school, according to the documents, only has one loan that it is currently repaying, after two successful moratoriums during the Covid-19 period in May and September 2020 respectively.
On February 15, 2021, the school’s account with Co-operative Bank was debited Ksh491,000 for the same.
However, Co-operative Bank went ahead and attached the school on Credit Reference Bureau (CRB),and indicated that the school had three loan facilities, instead of one.
The school is also concerned that Co-operative Bank has been carrying out multiple and arbitrary debits on their account without authorization.
The school is now worried that the bank is secretly planning to fleece their resources or frustrate and intimidate them so that their hard-earned resources can be taken over.
The school raised the matter with the bank via social media on March 2, with the bank promising to follow up on the matter before getting back to the school.
But speaking to Dailytrends.co.ke on Friday, March 12, Moses Wokono, the Principal Director at The Excellence School confirmed that the bank had not responded on the issue.
Mr Wokono confirmed that he had met with the Bank’s manager, but by Friday March 12, he had not received any positive feedback.
“I raised the issue with the Bank’s manager, but I have not yet received the status of the loan. I have just received a call from them, let me see if they will issue me with the status,” he said.