The government has announced that 25 people are set to receive payments related to unclaimed financial assets that belonged to deceased individuals.
This was revealed in a public notice issued by the Unclaimed Financial Assets Authority (UFAA) on May 9 through the Kenya Gazette.
According to UFAA, these payments will only be processed if there are no objections raised against the claims made by the listed beneficiaries within 30 days.
The authority clarified that the notice is issued under Regulation 12 of the Unclaimed Financial Assets Regulations, 2016.
“The Unclaimed Financial Assets Authority has received claims for unclaimed assets from various individuals acting as administrators of estates of deceased persons or as legal agents representing the original asset owners,” the notice explained.
The public is further informed that if no formal objections are submitted to the UFAA office within 30 days from the date of the notice, then the payments will proceed as planned to the individuals named.
In addition to individual claimants, several government institutions have also been listed as recipients of these unclaimed funds.
These include Deputy County Commissioners (DCCs) from Murang’a East, Juja, Nyahururu, and Njoro sub-counties, along with Public Trustees in Nairobi, Embu, and Machakos.
Most of the financial assets in question are held by local banks and major corporations. These include dormant bank accounts, unclaimed insurance proceeds, shares, and other forms of financial instruments.
In a separate announcement, the UFAA listed an additional seven individuals who have made claims but lost the original documents proving ownership—such as insurance policies.
The agency stated that they had submitted sworn affidavits confirming the loss of their original documents. These individuals will also receive payments within 30 days if no one raises any disputes regarding their claims.
This second notice was issued under Regulation 9 of the Unclaimed Financial Assets Regulations, 2016. The UFAA emphasized that if no objections are received at their offices within the 30-day period, payments will be made based on the submitted affidavits.
Once the payments are made, any legal responsibility related to the lost documents will no longer be valid.
Unlike the first group, the second group of beneficiaries does not include any public institutions or agencies. All the claimants in this category are individuals, and the unclaimed assets they are seeking belong to well-known insurance companies.
Over the years, UFAA has continued to run public awareness campaigns encouraging Kenyans to come forward and claim financial assets left dormant or forgotten.
These assets often include bank balances, insurance benefits, dividends, and shares, and they can amount to billions of shillings across the country.
According to the Unclaimed Financial Assets Act (Act No. 40 of 2011), anyone who believes they are entitled to unclaimed assets must submit a formal claim.
The authority then has a maximum of 90 days to evaluate and respond to that claim. However, only financial assets that have remained unclaimed or inactive for more than two years are eligible for reclamation.
Members of the public who wish to file a claim can do so by visiting the UFAA offices located at the Pacis Centre, 2nd Floor, off Waiyaki Way in Nairobi.
The agency has encouraged Kenyans to check whether they may have any unclaimed assets and begin the process of retrieving what is rightfully theirs.
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