The High Court in Arusha has ordered former CRDB Bank PLC employee, Godwin Ludwig Maimu, to pay over Shs 180,000,000 being loan facility balance he took ten years ago. Judge Definable Ndumbaro ruled against Maimu, after she agreed with most of the points raised by the bank in their case against the former employee. “This court is satisfied that the defendant is in breach of the loan facility. The outstanding balance that the plaintiff was able to prove was Shs 180,842,941.93, which the defendant is ordered to pay,” the judge said. She further declared in the judgement delivered recently that, “The defendant to pay the plaintiff general damages to the tune of Shs 10,000,000 for the cost incurred as a financial institution following the failure of the defendant to repay his loan as scheduled.” Facts show that the defendant was an employee of the bank. He was at some point granted a staff loan of Shs 50,000,000. Later on, he requested to be issued with an additional staff loan of Shs 161,000,000 which was granted, making the total loan amount to Shs 228,871,603.
Court orders former CRDB employee to repay staff loan
