Beleaguered utility firm Kenya Power has surrendered Ksh.100 million in unclaimed assets to the Unclaimed Financial Assets Authority (UFAA) according to the latest data by the regulator.
The surrender follows the fingering of the company by an audit from the Office of the Auditor General (OAG) which showed the firm was among State Corporations holding on to the unclaimed funds illegally.
As per UFAA, the organization has as of now localized a great many unclaimed resources for their legitimate recipients following the review.
"At the point when they got the report, Kenya Power started the compromise cycle and they went to our workplaces for a gathering and we had conversations," said UFAA Acting Manager for Unclaimed Asset Line Beatrice Chelagat.
Further, UFAA said it has gotten receipts of localized money from the utility firm confirming the reunification of the unclaimed resources.
"At the point when they do reunification at source, they should likewise give us the documentation to help the monies re-brought together. It is crafted by the holder to do the reunification, we possibly come in when they can't," said UFAA Acting CEO and Procurement Manager Jack Gumbo.
Both private substances and State organizations are needed to give up unclaimed resources for the UFAA by November 1 consistently.
The holders of the unclaimed resources are as of now attempting to rejoin the resources for recipients after which leftover aggregates will be given up to the UFAA before the current month's over.
Content created and supplied by: Mathee (via Opera News )