Government to Seize DP Ruto & Kalonzo’s Property after This Mistake
This is why
The two leaders have not claimed dividends accrued in some of the companies, where they hold shares.
DP Ruto has shares at giant Telecommunication Company Safaricom while Mr. Kalonzo has shares in Standard Chartered Bank, KCB and Co-operative Bank.
The Unclaimed Financial Assets Authority (UFAA) included the duo in the list of high-profile individuals who have not yet claimed their fortune as required by law.
In a report by a local daily, other leaders whose assets have been claimed by the State include; former Presidents Daniel arap Moi and Mwai Kibaki, the father of former US President Barack Obama and late Interior Secretary Joseph Nkaisserry.
The law stipulates that companies should hand over to the State different categories of idle assets whose owners have not claimed for up to five years.
Confirming this UFAA chief executive Kellen Kariuki said that the leaders would be informed first before action is taken.
“We will notify them to make claims since it’s their cash,” Ms. Kariuki stated.
It is not clear exactly how much Ruto and Kalonzo have not yet claimed.
She divulged that Mr. Moi assets have not been claimed even after making the announcement on local dailies.
Kariuki mentioned that this problem crops up when the beneficiary of assets is not informed or when in case of death there is no will.
However, it is the responsibility of the company to search for the rightful owners of an asset in its custody before declaring it as unclaimed and forwarding it to the UFAA.
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