- Advertisement -

Geoffrey Lutaaya must be cursing whoever advised him to leave Eagles Band (Golden Production) to start his own group-the Nu Eagles. Otherwise, things are not good.

On 10th March 2016, Lutaaya appeared in commercial Court in a case with Stanbic bank over huge debt. A few years ago, Lutaaya secured a Ugx. 45m from Stanbic to boost his band. Unfortunately, business has been slow, thus failing to service the loan. It has since accumulated to Ugx. 80m.

also read: Nu Eagles boss in Ugx 45m loan trouble, Stanbic bank threatens to attach Durban Hotel

- Advertisement -

In court, Lutaaya was asked to pay at least Ugx. 70m and pay the balance of Ugx 10m in a week’s time. Before, he went to court, Lutaaya had asked his former colleagues turned rivals at Golden Production to escort his (as well as raise something for him) to keep his Durban hotel.

The team at Golden Production only raised Ugx. 20m. Unfortunately, Geoffrey Lutaaya did not have even a single coin with him.

also read: Music Boycott: Mozey Radio and Weasel stoned in Iganga concert

Lutaaya made frantic calls to his friends, relatives and colleagues to raise the balance of Ugx. 50m without much success.

Having failed to raise the required amount, Durban Hotel is now under Stanbic Bank. Lutaaya was given fourteen days to raise the money or the bank completely takes over the Hotel.

Geoffrey Lutaaya take heart, you are not alone, even us writing these articles, we are not well off. Just quick one, kindly check with Mama Fina, she may do something for you.

Related: Bebe Cool loses Ugx 15m in Arsenal Vs Manchester United gamble

Will Buganda Kingdom Ngule beer survive in the highly competitive market?

Catholics in the world hit 1,272 million

Ugandan businesses and brands that once rocked the market

- Advertisement -



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.