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Court orders SK Macharia to wire back KSh 400m he transferred from Directline

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  • Justice Alfred Mabeya declared the withdrawal of funds as illegal and unlawful as it was intended to cripple the firm financially
  • The money was transferred from Directline’s Diamond Trust Bank account to Toy and Suna Holdings Ltd on May 16
  • On June 10, SK Macharia announced that he had ceased the operations of Directline Assurance Company and terminated employees’ contracts

 

Ekwutosblog journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting and offers profound insights into Kenyan and global economic trends.

The court has ordered Kenyan businessman SK Macharia to wire back KSh 400 million he transferred from Directline Assurance Company Limited.

Why court ordered SK Macharia to return funds

Justice Alfred Mabeya declared the withdrawal of funds as illegal and unlawful as it was intended to cripple the firm financially.

Business Daily reported that the judge ordered Macharia to return the money to the account it was taken from.

“This is in order to meet the ends of justice and to secure the interest of the policyholders of the plaintiff and the claimants for compensation,” Mabeya ruled.

According to Tech Cabal, the money was transferred from Directline’s Diamond Trust Bank account to Toy and Suna Holdings Ltd on May 16.

The Insurance Regulatory Authority (IRA) noted the transaction was a scam meant to defraud the company’s beneficiaries and policyholders.

Why SK Macharia stopped Directline operations

On Monday, June 10, SK Macharia announced that he had ceased the operations of Directline Assurance Company.

Macharia, who chairs Royal Credit Limited, which owns the insurer, said all employee contracts had been terminated.

The tycoon announced that the company’s board of directors would dissolve immediately and Royal Credit Limited would acquire all of Directline’s assets.

Citizen TV reported that while shutting down the insurer, Macharia accused the Insurance Regulatory Authority (IRA) of freezing Directline Assurance Company’s bank accounts.

SK Macharia loses case against grandson

Earlier,  Ekwutosblog reported that SK Macharia lost control of a KSh 1.2 billion estate in a row with his grandson.

Macharia’s grandson, Adam Kamau, lost his father, John Gichia, in a tragic road accident in April 2018.

Gichia left behind a KSh 1.2 billion estate that was the subject of an inheritance fight, but the court ruled in Kamau’s favour.

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IMO ON GLOBAL SPOTLIGHT AS GOVERNOR UZODIMMA KICKS OFF 2025 IMO ECONOMIC SUMMIT.

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The governments of Abia and Imo States have announced the launching of a joint security taskforce and surveillance along the Aba-Owerri expressway, starting from Owerrinta in Abia State all the way to Owerri, Imo State.

The launch followed recent attacks by criminals on the expressway, including kidnapping, armed robbery and other criminal activities.

The formation of the joint security taskforce and surveillance was announced by Ferdinand Ekeoma, the Special Adviser to Governor Alex Otti on Media and Publicity.

His statement read in part: “Arising from a strategic emergency security meeting held today, 4th December, 2025, by the Governors of Abia and Imo Sates at the Imo State Government Owerri House, His Excellency Governor Alex Otti and His Excellency Senator Hope Uzodinma resolved to set up a joint security Taskforce that shall consist of Soldiers, Naval Personnel, Police Officers , DSS Personnel, and other Government Security Agencies.

“The joint security Taskforce shall, starting from tomorrow 5th December 2025, patrol the road 24 hours nonstop, while carrying out massive surveillance in the surrounding bushes using sophisticated drones and other modern security equipment.”

According to the statement, Governor Alex Otti commended the Governor of Imo State for arresting the criminals who carried out an attack on His advanced team and other passengers a few days ago.

“The two Governors, while assuring citizens plying the road on a daily basis and those returning home for Christmas of their safety and security, warn that there would be severe consequences for any criminal caught on the road going forward”, Ekeoma concluded.

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President Tinubu Transmits to The Senate Lists Of Ambassadorial Nominees

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President Bola Tinubu has transmitted to the senate two lists of 34 career and 31 non career ambassadors nominees for screening and confirmation.

Prominent names listed as non career ambassadors include Reno Omokri, Femi Fani-Kayode, Gen. Abdulrahman Dambazau, Victor Ikpeazu and Ifeanyi Ugwuanyi.

Also listed as non career ambassadors nominees are Prof. Mahmood Yakubu, Vice Admiral Ete Ibas, Senator Jimoh Ibrahim, Senator Nora Daduut, Fatima Ajimobi, and Senator Ita Enang among others.

The two lists brings to 68 number of persons nominated so far as ambassadors awaiting confirmation by the Senate.

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PRESIDENT TINUBU FORWARDS NEW AMBASSADORIAL LIST TO SENATE, NOMINATES DAMBAZAU, IBAS, CHIOMA OHAKIM AND OTHERS

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By Prince Uwalaka Chimaroke
4-DEC- 2025

President Bola Ahmed Tinubu has submitted a fresh set of ambassadorial nominations to the Senate, featuring a mix of distinguished public figures and seasoned professionals drawn from across the country.

Among the notable nominees are former Chief of Army Staff and ex-Minister of Interior, Abdulrahman Dambazau; former Chief of Naval Staff and immediate past sole administrator of Rivers State, Ibok-Ete Ekwe Ibas; former senator Ita Enang; and Mrs. Chioma Ohakim, former First Lady of Imo State.

The President formally transmitted two comprehensive lists containing 34 career and 31 non-career ambassadorial nominees, bringing the total number of nominees awaiting Senate confirmation to 68.

The newly submitted lists mark another significant step in the administration’s ongoing diplomatic restructuring, aimed at strengthening Nigeria’s representation and presence across global missions.

The Senate is expected to commence screening and confirmation proceedings in the coming days.

 

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