Is Eric Agolla Lugalia warming up to defraud bank Sh720M, this is what we know

Corrupt and scandal-hit Captain Eric Agolla Lugalia was confused after he launched after he held a press conference to comment on the Sh722M case that he is in wrangles with both the CBK and the Absa bank.

Eric Agolla Lugalia

According to reports which we have confirmed, he recently held a press conference in an attempt to sway the court to reject a plea by Stanbic Bank executives, who seek to halt police investigations.

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Some confirmed investigations indicate that Lugalia, associated with Air Afrik Aviation Ltd, is accused of involvement in a Sh722 million dispute with the bank. Following the Directorate of Criminal Investigations (DCI) probe, Lugalia countered with his complaint, asserting that the bank owed him the disputed amount.

To protect his tainted name, Lugalia referenced the constitution, insisting that he was wronged in the matter. He has since filed an application requesting that the court compel further investigations into the bank’s executives, which he claims would provide clarity and forgive him.

The case has attracted public interest, as it also involves Stanbic Bank’s CEO Joshua Oigara, who challenged a DCI summons related to the dispute. Oigara, who was recently summoned to provide statements regarding the prolonged disagreement between the bank and Lugalia’s aviation company, argues that the case was previously investigated and cleared by regulatory authorities.

Lugalia, who faces additional claims in court related to financial disputes, remains firm in his stance, alleging his company’s rights have been compromised. The case continues to unfold, with both sides presenting arguments aimed at shaping the investigation’s course.