Lutaaya and his wife Irene Namatovu

Lutaaya could run out of Business

Recently, we revealed how shocking Geofrey Lutaaya rejected an offer of whooping Ugx. 450million for a plot of land in Makindye that he bought at Ugx. 40 million.

Xclusive ug has learnt that Lutaaya is on a hot seat over loan he acquired from Stanbic Bank and must be nursing regrets for

not selling the Land given the opportunity.

Sources have informed us that he received Ugx. 36million loan from Stanbic mid 2015 Unfortunately, he has so far failed to clear on agreed stated time.

The source add that the loan has accumulated to Ugx. 79.3million and used his Durban Hotel as collateral which is yet to be taken by the bank. We have learnt that the bank has filed a case at Nakawa Court asking the court to allow them sell off the Hotel to settle the loan.


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