Authority invites the public to go for unclaimed assets

Jan 22, 2024 - 16:13

Some of the Embu County National Government Administration officers during a sensitization workshop organized by the Unclaimed Financial Assets Authority. The Authority called on the officials to help inform the public to register and claim the assets,

Embu,

Monday, January 22, 2024

KNA by Steve Gatheru

The Unclaimed Financial Assets Authority (UFAA) is inviting the public to claim Sh63 billion in cash and other assets it is holding.

Chairman of the UFAA Board of Trustees, Dr. Kigo Njenga, said the assets have been forwarded from banks, insurance companies, and Saccos where they have laid unclaimed in dormant accounts for a long time.

Dr Njenga said the authority traced and rejoined over two billion shillings to the owners or heirs in the last two years and added that they would like to issue out the remaining assets so that the public can invest them in development projects in the country.

The UFAA Chair added that the assets they are holding, Sh32 billions of it in cash, is a reasonable amount that could boost the national economy.

He was speaking in Embu today morning when the Authority sensitized officers of the National Government Administration on ways that members of the public can access the assets.

The 133 assistant chiefs, 57 chiefs, 28 assistant county commissioners and four deputy county commissioners led by County Commissioner Jack Obuo promised to ensure the message reached all corners of the county.

UFAA CEO and Managing Trustee John Mwangi announced that they will have a three-day open day at Moi Stadium Embu beginning on Wednesday where they will assist any claimants in filling out the necessary paperwork after which their claims will be settled in 14 days.

He added that those claiming assets left by deceased persons will have to have letters of administration and where they do not have them, officers from the Judiciary will be on hand to help claimants kickstart the process of acquiring them.

Embu Principal Magistrate Pauline Mulika who was also in the sensitization team said the country's courts are holding huge sums of monies that were deposited as bail and bond but which litigants did not claim when the cases were concluded.

She appealed to those who did not reclaim their cash and other assets from the courts to do so before the same is surrendered to UFAA and which would take a longer process to reclaim.

Courtesy; KNA