A total of Kshs 400m will be released by The Ministry of Sports to bail out National Olympics Committee (NOC-K) headquarters from auctioning.
This follows the meeting between NOC-k officials and sports cabinet secretary Amina Mohammed and Principal Secretary Kirimi Kaberia on Wednesday last week after which a resolution was made to clear the debt from the now operational Sports and Social Development Fund.
Before the money is paid however, the ministry has placed certain conditions to be fulfilled by the Nock officials themselves, Sidian Bank and the contractors who have been working in the building so far.
The building in question is the Nock Plaza located in Upper Hill, Nairobi, which had been estimated to cost Sh1.2 billion with Sidian Bank being the main financier at Sh800million.
Nock were to remit the remaining Sh40 million, but they failed to do so on time, leading to the stalling of operations on the prime property whose construction began in 2014. And on March 18 this year, Sidian bank announced that the building would be up for auction this coming Friday.
This announcement drew a lot of public concern, prompting opposition leader Raila Odinga to petition the government to intervene and stop the intended auction.
Additional information: Daily Nation