The Unclaimed Financial Assets Authority (UFAA) has urged Kenyans to collect their money in terms of Unclaimed Financial Assets from the Central Bank of Kenya (CBK)
According to Authority’s Chairman Francis Njenga to media outlets on Monday, he said that the authority will be on Embu on Wednesday in a bid to urge more kenyans to claim their assets as soon as possible.
Njenga also revealed that the authority has been to different counties including Thika, Kisumu, Nyeri, Kirinyaga, Nakuru and Murang’a where Kenyans have been able to collect their money.
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“We have a total of Ksh.63 billion out of that, Ksh.33 billion is in cash and 1.7 billion shares worth Ksh.30 billion. Kenyans should make an effort to claim and collect this cash.”
The UFAA chairperson said that the claims take 7 to 14 days to be processed, and Kenyans can file their claims by dialing *361# or by visiting the UFAA website.
“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 Ksh. 10 billion.”
He urged banks, insurance companies and other financial institutions that have unclaimed assets between two to five years and have failed to locate the persons to forward to them, depending on the nature of the asset. Failure to do so, the institution will have to pay twice the amount under the Kenyan law.
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The move to move from county to county is to ensure that more kenyans are sensitised on the Unclaimed assets, what they are and how to claim them by taking them through the procedures necessary for claiming assets.