Kenya’s High Court has ordered the auction of assets belonging to Eco Bank Kenya in a decades-old dispute involving the estate of the late Cabinet minister Mbiyu Koinange.
The ruling, issued on Friday, directs Moran Auctioneers to seize and sell the bank’s movable property to recover Ksh.284 million, plus interest, owed to the Koinange family. Court papers show the auctioneers must first give 15 days’ notice before proceeding with the sale.
“You are further commanded to return this warrant on or before the 18th day of November 2025 with an endorsement certifying the day on which and manner in which it has been executed, or why it has not been executed,” the registrar’s order stated.
The directive stems from a judgment delivered in June by Justice E.K. Ogolla, who found that Eco Bank had “irregularly and unlawfully” allowed withdrawals from an account belonging to the Koinange estate. The bank was ordered to reimburse the missing sum, which the court said had been lost through unauthorised transactions.
The estate had gone to court in March 2024, seeking answers on the disputed funds and demanding disclosure of the individuals behind the withdrawals.
Eco Bank, one of Kenya’s mid-tier lenders, has not publicly commented on the court order. It remains unclear whether the bank intends to challenge the ruling or pursue a settlement with the estate.
The case is the latest chapter in the long-running legal battles tied to the estate of Mbiyu Koinange, a powerful politician during the Jomo Kenyatta era whose wealth and succession have been subject to court wrangles since his death in 1981.
Legal experts say the decision signals tougher scrutiny of financial institutions in managing estate accounts. “It is a reminder that banks carry a fiduciary duty to protect client funds, particularly where estates and vulnerable beneficiaries are concerned,” said a Nairobi-based lawyer familiar with succession disputes, who requested anonymity due to the sensitivity of the case.
The auction is expected to proceed later this year unless Eco Bank secures a stay of execution. For the Koinange estate, which has fought for decades over contested wealth, the order marks a rare victory in its push for accountability.
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