The Unclaimed Financial Assets Authority (UFAA) has sent a notice to 137 individuals who are claiming assets left in local banks. The CEO of UFAA, John Mwangi, has given them 30 days to claim these assets.
The notice states that the UFAA has received claims for unclaimed assets from people who are acting as administrators of deceased individuals' estates or as agents of the original owners. If no objections are made within 30 days, the assets will be paid out to the named individuals.
The individuals who need to claim the assets include Deputy County Commissioners and Public Trustees from various locations across the country. There are also private citizens among the claimants.
In addition, seven other claimants have been given 30 days to collect assets from different insurance companies. If no objections are made within the given time frame, payment will be made to these individuals on the basis of a sworn affidavit for a lost original policy document.
All claimants are required to visit the UFAA offices located at the Pacis Centre in Nairobi County.
The UFAA is responsible for holding unclaimed assets left behind in banks or insurance companies. Kenyans can check if they have any unclaimed assets by dialing *361#.
Currently, the UFAA holds Ksh62 billion in unclaimed assets. The authority is urging Kenyans to come forward and claim their assets, even if they have low value. Around 70% of the unclaimed assets, totaling Ksh32 billion, are in small denominations of less than Ksh5,000.
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