Equity Bank Group CEO James Mwangi and his wife have been ordered to deposit Sh10 million as security pending the hearing of an appeal challenging a court judgment that directed them to vacate a disputed parcel of land in Nairobi’s upscale Muthaiga estate valued at about Sh1 billion.
A three-judge bench of the Court of Appeal comprising Daniel Musinga, Patrick Kiage, and Agrey Muchelule directed Mwangi and his wife Jane Wangui Mundia to deposit the amount in an interest-earning account.
The judges ordered that the account be opened within 60 days in the joint names of Mwangi’s advocate and Mount Pleasant Limited, the firm declared by the lower court to be the lawful owner of the land.
Status Quo Orders Issued
The appellate court further ordered that the status quo be maintained regarding the suit property pending the hearing and determination of the appeal.
However, documents filed at the Environment and Land Court (ELC) indicate that Mount Pleasant Limited has already executed the eviction orders.
In a document received by the ELC on January 7, 2026, Mount Pleasant informed the court that it had taken possession of the property.
“The above court order has been executed today the 07/01/2026 under supervision of the OCS Gigiri and now the plaintiff Mount Pleasant Ltd has gained possession of the property,” reads a document signed by the OCS Gigiri Police Station.
Background of the Land Dispute
Mwangi and his wife moved to the Court of Appeal after the Environment and Land Court ruled that they were not the rightful owners of the contested land.
They had told the court that they purchased the property from former President Daniel arap Moi in 2013 for Sh306 million.
However, the ELC found that the land belongs to businessman Anverali Amershi Karmali through Mount Pleasant Limited, which stated that it bought the three-acre parcel in July 2006 from former Finance minister Arthur Magugu for Sh130 million.
Mandatory Eviction Orders
In his judgment, Justice Oscar Angote issued a mandatory injunction directing Mwangi and his wife to vacate and surrender the land within 30 days, failure to which they were to be evicted with police assistance.
“An order does hereby issue that the OCS, Gigiri Police Station and/or Muthaiga Police Station provide assistance in enforcing vacant possession and securing Mount Pleasant’s peaceful occupation of the suit property,” the judge ruled.
The court also ordered the Chief Land Registrar to cancel all titles, entries, and conveyances relating to Mwangi and his wife, and to nullify the amalgamation of L.R. Nos. 214/20/2 and 214/20/1/1 into L.R. No. 214/832.
Sh10 Million Trespass Damages Awarded
Justice Angote further ordered Mwangi to pay Sh10 million to Mount Pleasant Limited as damages for trespass.
In assessing damages, the judge considered the location, size, duration of trespass, and the value of the land, which was estimated at Sh1 billion in 2022 valuation reports.
“The court comes to the conclusion that an award of Sh10 million would suffice as appropriate recompense for trespass,” Justice Angote ruled.
Irregularities in Land Records
While noting that the Directorate of Criminal Investigations had not made a conclusive finding on alleged forgeries, the judge said the documentary evidence revealed significant anomalies.
He ruled that even if fraud was not proved to the higher legal threshold, the procedural and documentary irregularities surrounding the conveyance and registration of Mwangi’s title were sufficient to impeach it under Section 26(1)(b) of the Land Registration Act.
Claims of Forceful Takeover
Karmali told the court that in June 2020, Mwangi allegedly visited the land accompanied by police officers, removed Mount Pleasant’s guards, and replaced them with others.
He claimed land registry records had been tampered with, making it difficult to trace ownership history, and that the land file was missing at the Ministry of Lands.
Court documents further show that the property had been charged to National Bank of Kenya in the late 1980s for Sh10.5 million by MDC Holdings Ltd, a company linked to Magugu, which later defaulted on the loan before ownership changed hands.
Appeal Pending
The appeal by Mwangi and his wife is yet to be heard and determined by the Court of Appeal.