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Assets authority in the spot over Sh27.6 billion

Auditor General Nancy Gathungu when she appeared before the Senate County Public Investment and Special Funds Committee at Bunge Tower in Nairobi on September 04, 2024. [File, Standard]

The unclaimed Financial Assets Authority (UFA) has been faulted by the Auditor General for only releasing Sh2.4 billion in unclaimed assets to rightful owners despite having accumulated Sh60 billion worth of assets.

A report by the Nancy Gathungu-led office covering six financial years from the period between 2018 and 2024 reveals that the Authority is holding Sh57.6 billion and criticizes it for denying the rightful owners' access to their assets.

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