Kellen Kariuki who founded the State agency that has chalked up Sh36.5 billion in unclaimed assets, said she would not renew her four-year tenure in office, which ends next month.
Ms Kariuki’s tenure unlocked billions of shillings for Kenyans whose relatives died intestate (without leaving a will), sharing out their wealth or disclosing whereabouts of their money stashed in various financial entities.
The agency has since established an online portal where Kenyans in retirement, their relatives as well as workers could check whether they have a stake in the Sh36.5 billion held in trust by the institution
Unclaimed Financial Assets Authority chief executive Kellen Kariuki is set to quit her position, board chairman Katwa Kigen has announced.
Ms Kariuki, who founded the State agency that has chalked up Sh36.5 billion in unclaimed assets, said she would not renew her four-year tenure in office, which ends next month.
Mr Kigen on Thursday wished her well saying “in the spirit of good corporate governance, the chief executive officer and managing trustee has duly exercised her right and notified the board of her decision to leave office effective November 1”.
Mr Kigen said Ms Kariuki would continue serving as CEO and managing trustee as the board searches for her successor.
Ms Kariuki’s tenure unlocked billions of shillings for Kenyans whose relatives died intestate (without leaving a will), sharing out their wealth or disclosing whereabouts of their money stashed in various financial entities.
The agency has since established an online portal where Kenyans in retirement, their relatives as well as workers could check whether they have a stake in the Sh36.5 billion held in trust by the institution.
The assets include Sh10.7 billion in cash, 446.99 shares worth Sh25.76 billion and 8.15 million unit trusts worth Sh14.55 million.
Sources of the funds have mainly been uncollected salaries and benefits, pension, unit trusts, mature policies, unclaimed dividends, money in dormant mobile, bank and sacco accounts that remain uncashed for more than two years.
The agency currently holds 1,047 safe-boxes containing valuables such as jewellery, share certificates and title-deeds, amongs others, whose custodians, mainly banks, insurance companies and saccos, surrendered to the parastatal.
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