He alleged that on the same day, Matemu approved two other loans of Sh18 million and 19.2 million respectively to subsidiary companies of the Rift Valley Agricultural Contractors.
The funds the group claims were however not given to the Rift Valley Agricultural Contractors but were instead disbursed to the National Bank in mysterious circumstances.
“It is not known whose names they were converted to and to who they were cleared to,” Ogolla told the court.
He said it is likely that EACC will investigate the issue and with Matemu as an interested party there can be no fair or fruitful probe.
The alliance has also accused Matemu of individually canvassing for support from Members of Parliament.
The group says that it has evidence that new anti graft Czar met five MPs at a Nairobi Hotel seeking their support.
Justice Emukule ordered that the respondents be served within seven days and direted the case be heard interparties on May 30.
He also ordered for the proceedings to be copied to the Chief Justice Willy Mutunga for further Directions.