Former Lugari MP Cyrus Jirongo. [photo/standard digital]
A commercial court has declared former Lugari MP Cyrus Jirongo bankrupt.
The judge made the decision after finding out that Mr Jirongo was not able to pay a Sh700 million debt
In an interview with one of the local media stations Jirongo said he was a billionaire by the age of 30. So generous was Jirongo, that at one time, after former Cabinet Minister Shariff Nassir visited him, Jirongo walked him to the car park only to discover the minister was driving an old Mercedes.
He immediately wrote a note to DT Dobie asking them to give Nassir a new car.The Youth for Kanu 92(YK92), an outfit led by Jirongo to ensure Kanu won Kenya’s first multiparty elections, was known for generouly dishing out newly-minted Sh500 notes.Back then, the largest denomination in the country was the Sh200 note and the new Sh500 one was nicknamed ‘Jirongo.’In the interview, Jirongo said the first funding of YK’92 of Sh3 million came from him and five other friends.He said that the group raised about Sh300 million for their campaign.Regardless of today's inflation, this would be equivalent to Sh1.2 billion .“I was a billionaire by the age of 30. YK never made me, it destroyed me financially,” Jirongo said.A wealthy man by any standard, Jirongo is associated with companies such as Sololo outlets and Cyper Projets besides developing Saika estate near Komarock/Kayole, Hazina Estate in South B and Kemri estate on Mbagathi Road.On Monday, Commercial Court judge Olga Sewe ruled that Jirongo was bankrupt and ordered that his estate be put under receivership. Mr Jiongo was found to be unable to pay a debt running into millions of shillings.The former Lugari MP is also facing a suit by COTU secretary general Francis Atwoli for alleged non-payment of a Sh110 million debt.The flamboyant workers' union boss claims the August 8 presidential candidate failed to pay him and now wants the court to compel the former MP to do so.In October last year, Jirongo pledged that he would pay the money Atwoli had given him.