It is now over two years since former presidents Daniel arap Moi and Mwai Kibaki’s families’ property was seized by the Treasury for being idle and now it has emerged that the two big families have failed to recover.
The Unclaimed Financial Assets Authority (UFAA) said Friday the two families have not claimed ownership to assets owned by their late matriarchs.
The authority is holding East Africa Breweries Limited (EABL) and Centum Investment shares and dividends belonging to Lena Moi as well as property belonging to Lucy Kibaki who died in 2016.
Mrs Kibaki’s assets were forwarded to the authority by Co-operative Bank in 2015 — months before the former First Lady died in a London hospital.
Mrs Moi died in 2004 and her EABL and Centum shares were transferred to UFAA in 2014 and 2015 respectively.
“The two first families are yet to make a claim to the assets,”a source who sought anonymity is quoted by Business Daily. “All we require from the claimants is a will or letters of administration in the absence of the will.”
The law requires the holding companies to search for the rightful owners of an asset before declaring it as unclaimed and forwarding it to the agency.
It is not clear whether the companies that have handed over assets belonging to the prominent families made an effort to comply with the law.
Mrs Kibaki is survived by four children and her husband, who governed Kenya from 2002 to 2013.
On the other hand, Mrs Moi is survived by seven children, including Baringo Senator Gideon Moi, and Rongai MP Raymond Moi. Her marriage to Mr Moi collapsed in 1974 followed by a divorce in 1979.
This world should be stepped slowly;where is she despite the lucre, power and impunity?For those who might feel offended by my statement, please forgive me.— william chege (@wchege2) April 15, 2019
They have enough it seems!— 🙂 (@AVirtualVoyager) April 15, 2019