Govt Asks Kenyans To Claim Ksh82 Billion In Unclaimed Assets; Here's How
UFAA stated that only Ksh2 million is claimed each month.
Viral Tea Ke Writer 
Kenyans have been called upon to claim their financial assets, with the Unclaimed Financial Assets Authority (UFAA) reporting a whopping Ksh82 billion in unclaimed financial assets.
According to UFAA Chairman Francis Njenga who spoke on Monday, February 17, the agency is committed to ensuring that the funds get back to their rightful owners.
"We are looking for the owners of this Ksh82 billion to come and pick the money. Our core mandate is not to receive the money and keep it; we receive and reunify the money with the owners. We urge Kenyans to come forward and demand the money. This money belongs to Kenyans from all walks of life; from the Gen-Zs to the elderly people," he stated.
UFAA stated that only Ksh2 million is claimed each month. While they are responsible for safeguarding the funds, they emphasized the importance of Kenyans reclaiming their financial assets to prevent the accumulation of unclaimed funds.
Unclaimed Financial Assets Authority (UFAA) Chairman Francis Njenga. /NAIROBI LEO
"The funds are safe and in the Central Bank, but for the years that one may not come, it is our responsibility to safeguard them. We do an average of almost Ksh2 million, or a million, in claims each month that the public comes to our offices to claim," Njenga continued.
On the other hand, UFAA acting CEO and Managing Trustee Caroline Chirchir assured the public of the safety of the funds, which are securely held at the Central Bank.
UFAA emphasized that the process of claiming financial assets is thorough and essential, involving validation and verification to ensure the rightful claimant receives the assets.
The agency also warned asset holders who have yet to remit claimed assets, assuring that the reimbursement process has been simplified over time. An outreach program was launched in Nairobi on Monday, February 17, to offer essential services and educate residents on the process.
Common unclaimed financial assets include bail and bond refunds, unclaimed deposits, dividends, and interest. Other assets include utility deposits, death benefits, annuities, and funds from dissolved businesses.
People lose financial assets due to negligence or lack of awareness. Bank accounts, investment accounts, and insurance policies can become unclaimed if they remain inactive for an extended period.
As per the Unclaimed Financial Assets Act (No. 40 of 2011), individuals must file a claim, which will be reviewed within 90 days of submission. Financial assets must have been unclaimed for over two years before they can be reclaimed.
How To Claim
To check for unclaimed assets, visit the UFAA website and go to the "Find & Claim" section. Select "Find Assets" and enter your details to search for any assets linked to your name.
Alternatively, you can dial *361# on your mobile phone and follow the prompts to check for unclaimed assets associated with your identity.
The process of filing a claim with UFAA depends on your relationship to the asset. However, you must provide specific documents, such as a certified copy of your National ID and an official letter from the asset holder confirming the remittance of unclaimed funds to UFAA.
Additional documents may be required based on the type of claim, such as a death certificate for beneficiaries or a certificate of incorporation for business entities.
UFAA was created to oversee unclaimed financial assets, such as dormant bank accounts, unclaimed insurance policies, shares, and other inactive funds.
