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Unclaimed cash hits Sh10.4bn in Oct as 87 more firms comply

Ms Kellen Karuki, Unclaimed Financial Assets Authority chief executive. FILE PHOTO | NMG
Ms Kellen Karuki, Unclaimed Financial Assets Authority chief executive. FILE PHOTO | NMG 

Unclaimed cash held by the government has risen to Sh10.4 billion from Sh8.75 billion last month after 87 more companies observed the October 31 reporting deadline. At least 250 firms had previously filed.

Unclaimed Financial Assets Authority (UFAA) chief executive Kellen Kariuki said its auditors would continue working with regulatory agencies to scrutinise books of various companies to ensure all unclaimed cash is surrendered.

She called on Kenyans to from time to time check the UFAA website (www.ufaa.go.ke) to ascertain the status of their departed family members or aging parents. 

All public and private entities are by law required to remit uncollected salaries, pensions, allowances, retirement benefits, securities among other monetary assets to the UFAA.