On Monday, Unclaimed Financial Assets Authority (UFAA) Chairperson Francis Njenga urged Kenyans to collect their unclaimed assets currently held at the Central Bank of Kenya.
The authority will be at the Moi Stadium in Embu on Wednesday, as part of an ongoing government program to raise awareness among the public regarding uncollected financial assets.
Mr Njenga disclosed that the State is currently holding a total of Ksh. 63 billion; Ksh. 33 billion in cash, and 1.7 billion shares valued at Ksh. 30 billion.
Addressing journalists in Embu, Njenga mentioned that the authority has visited Thika, Kisumu, Nyeri, Kirinyaga, Nakuru, and Murang’a, facilitating Kenyans in collecting their money.
“Since we began this program to reach out to Kenyans with unclaimed assets we have paid over Ksh.2 billion in assets and by the end of the year we want to have paid out Ksh10 billion,” Njenga said.
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He added that the processing of claims takes 7 to 14 days, and Kenyans can file their claims by dialing *361# or by visiting the UFAA website.
Njenga expressed the authority’s intention to enhance the availability and accessibility of services at lower levels while collaborating closely with existing Huduma Kenya Service Delivery infrastructures.
He urged banks, insurance companies, and other financial institutions holding unclaimed assets for two to five years, without being able to locate the rightful owners, to submit the information to the authority, depending on the nature of the asset.
“Failure to do so, the culpable institution will pay twice the amount under the Kenyan law,” he said.
