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52 Billion Unclaimed Assets Kenya: Rent Deposits, Bank Balances – UFAA Chair Francis Kigo Njenga

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52 billion unclaimed assets Kenya have been announced so far by the government of Kenya. The Unclaimed Financial Assets Authority (UFAA) chairperson, Francis Kigo Njenga, says the real value could be more.

News about a junk of monies lying idle in treasurer resurfaced on Tuesday following a statement from the UFAA boss,

52 Billion Unclaimed Assets Kenya

Speaking to the media, UFAA chairperson Kigo Njenga encouraged Kenyans to confirm any assets registered under their names using a short code *361#.

He said all legitimate request will be granted to the deserving Kenyans.

“We want Ksh52 billion to go back to the mainstream economy because that it is 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.”

UFAA boss Francis Kigo Njenga.

Targeted individuals include those that opened accounts and neglected them soon after.

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Tenants who vacated houses without claiming their rent deposits are also in the list of people with unclaimed assets.

Elsewhere, Kenyans who abandoned their former mobile money operators without clearing airtime are targeted.

“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 travellers’ 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.”

UFAA boss Francis Kigo Njenga.

Mr Kigo also spoke about the following categories of Kenyans.

  • Unpaid wages
  • Unclaimed gifts
  • Check overdrafts
  • Self-deposits
  • Life endowment insurance
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Mostly blamed are authorities which opened different accounts and failed to inform their next of kin.

UFAA records show that only Ksh. 2 billion had been claimed by the ending of December 2022.

Mr. Kigo says UFAA will commence a countrywide campaign to educate Kenyans on the importance of claiming their assets.

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He also said the service will soon be accessible through various Huduma Centres across the country.

52 billion worth of unclaimed assets Kenya signals a high volume of resources locked away from circulation. Check against your name by dialing *361# and following the prompts; it is easy!

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