Government asks Kenyans to collect unclaimed Ksh52 billion, How to apply
3 min read
Government through the Unclaimed Financial Assets Authority (UFAA) implores Kenyans to collect abandoned Ksh52 Billion
Government through the Unclaimed Financial Assets Authority (UFAA) implores Kenyans to collect abandoned Ksh52 Billion.
On May 30, Francis Kigo Njenga, the chairman of the Unclaimed Financial Assets Authority (UFAA), pleaded with Kenyans to claim their unclaimed assets.
In a media interview, Kigo advised Kenyans to dial the short code *361# to check the status of any assets registered in their names.
Explaining the recent push behind asking Kenyans to claim their assets, Kigo stated the money would be ploughed back into the economy once claimed.
“We want Ksh52 billion to go back to the mainstream economy because that it the main objective of having this unclaimed assets authority.”
“We are in the process of telling people to come and get their money. We are doing a lot of advertisements, including printing names on the print media.
According to the Unclaimed Financial Assets Authority, Kenyans, especially low-earning ones, were among the highest contributors to the Ksh52 billion lying idle.
Some of the targetted Kenyans had established accounts and neglected them.
Some moved out of their houses without claiming deposits, while others switched from one mobile money operator to another without clearing their airtime balances.
Unpaid wages, unclaimed gifts, check overdrafts, self-deposits, and life endowment insurance were among the assets which Kenyans abandoned.
“Some people switch from one mobile number to another, leaving balances to their mobile money. Some come in balances of data and airtime. That money is surrendered to us.
“Others are people who handle travelers’ checks, and after two years, the holder of that check is supposed to remit it. Others would have money orders, and after two years, those instruments are supposed to be surrendered to us,” he detailed.
Why US Embassy was on Monday closed for 24 hours
US announces sanctions against Uganda over anti-LGBTQ law
All Rural hospitals in Kenya won’t accept NHIF cards as of Wednesday
The authority also blamed partners who opened different accounts and failed to inform their dependants and next of kin. According to UFAA, only Ksh2 billion had been claimed by various individuals by December 2022.
Kigo announced a countrywide campaign and conferences to educate and inform Kenyans on the importance of claiming their assets. They also revealed plans to roll out the Huduma Centres services to help Kenyans regain their idle monies.
How to claim
Kigo advised Kenyans to check their unclaimed financial assets using the short code *361#. By following the stipulated procedures, all accounts holding the unclaimed assets.
To recover the funds, you can download forms from the agency’s official website, fill in the details, and submit them to the UFAA.
Also read,
‘Either way, you lose’ Ruto in a fix over Finance bill, Political analyst claims
SRC confirms salary increase to all state officers in the 2023/2024 financial year
Miguna slams Ruto over Finance Bill 2023 “Withdraw and return to the drawing board”
Follow us
