Kampala Central Member of Parliament, Muhammed Nsereko, has been dragged to Commercial Court for failure to pay Shs 270m debt he owes a city businessman.
Khan Amdan, a money lender says Nsereko borrowed a sum of $ 100,000 [then Shs270m which would be Shs367m on today’s rates] in December 2012.
The two entered an agreement where Nsereko would pay back within 90 days.
This would not exceed March the next year .
Amdan claims he has never seen Nsereko ever since.
The MP has made it a point to ignore the money lender’s calls and appeals to pay back the said money.
Commercial Court Registrar, Thaddeus Opesene, has issued summons against the MP.
Opesene asked Nsereko to file his defence before Justice Hellen Obura [who will hear the case] within 10 days.
In April 2014, Hatwib Katoto, MP for Katerera County, dragged Nsereko to Commercial Court after failing to pay back a loan of Shs 660 million.
MP Katoto alleged that on August 7, 2013 Nsereko borrowed Shs310 million to be paid back in 60 days, but he later defaulted.
He alleges that instead, in February 2014 Nsereko again borrowed Shs349 million from him, raising the total loan sum to Shs660m, which he never repaid.