Billionaire Peter Nduati has sued a local mobile money lender for allegedly forwarding his name to the Credit Reference Bureau over an alleged Sh1,000 loan he did not apply for.
The Resolution Health Insurance Company founder and Centric Air CEO says that he was treated to shock after finding out that Centric Air had been blacklisted at CRB.
The company was then in the final stages of procuring a loan but the bank offering it told him that he had been enlisted as a defaulter, consequently disqualifying him.
Upon investigating, he found out that the money lending app had reported him in December for failing to pay the Sh1, 000, a loan which he maintains he never took.
“I am very particular in maintaining a good credit score because I use leverage for investing. The bank could not disclose who had listed me and referred me to CRB,” he was quoted by the Nation
He maintains that though the company has since cleared him terming it an error, the matter has affected him greatly.
He now says that the damage has already been done, with his credit score now ranked at BB- which could affect his future dealings as far loans are concerned.
“No further explanation but that transaction has brought my credit score to BB- or something like that which simply means I have a 40 per cent chance of defaulting,” he added.
He noted that he has never taken a loan through such apps.
He is now suing the company whose identity is concealed for legal purposes.