Former Kiambu Governor, Ferdinand Waititu (Baba Yao), has lost a Nairobi CBD office property worth Ksh520 million after failing to complete its purchase. The ex-Governor lost the deposit after the sale was terminated as well as the 10 per cent deposit he had already paid amounting to KShs. 52 million. .  

Waititu alleged that financial institutions declined to offer him loans to complete the purchase, owing to several graft cases levelled against him. 

Anti-graft agencies flagged one of Waititu’s companies that was accused of embezzling Kiambu County funds, and was also reportedly used in purchasing the CBD property. Having failed to pay the balance, the owners were forced to cut off the deal that had spanned three years. 

The sellers sued Waititu and asked the court to allow them to forfeit the Ksh52 million deposit as he had breached the contract and sale agreement. Mr. Waititu entered into a sale agreement without sufficient funds to complete the transaction. He was expected to have paid the balance within 90 days.