Moi, Kibaki and Kalonzo among Wealthy Kenyans Yet to Claim Idle Assets Worth Billions of Shillings

The Unclaimed Financial Assets Authority (UFAA) says rich Kenyans are reluctant to claim the more than Sh8.5 billion idle assets surrendered to the National Treasury.

UFAA Chief Executive Officer Kellen Kariuki said the super-rich Kenyans are shying away from taking up the idle assets as they consider them 'small.'

“We have informed many people to claim their hard-earned money but surprisingly, most are not doing so because the numbers mentioned appeared small to them,” chief executive Kellen Kariuki said.

Retired presidents Daniel arap Moi and Mwai Kibaki, Wiper leader Kalonzo Musyoka, the estate of former United States President Barack Obama and the late Interior Cabinet Secretary Joseph Nkaisserry are some of prominent and deep-pocketed Kenyans who are yet to claim their assets held by the State.

Others are former Cabinet ministers Maina Wanjigi, Simeon Nyachae and Njenga Karume, among others.

Assets considered unclaimed include cash in bank accounts, bankers cheques not cashed and contents in safe deposit boxes which have been dormant for over five years. 

Others are life insurance policies unclaimed for more than 2 years and shares whose dividends have not been claimed for over three years.