Obama, Kibaki Families Lodge Claims on Idle Assets Held by Treasury

The Unclaimed Financial Assets Authority has confirmed that families of former presidents Mwai Kibaki and Barack Obama have lodged claims for their assets seized by the Treasury after they were declared idle property.

The Unclaimed Financial Assets Authority (UFAA) said the two families had officially sought to reclaim the funds that were unclaimed for years.

“Obama family members met us last week to lay claim to the assets. Kibaki family has also lodged a claim as well as that of the late CS Nkaissery,” said Kellen Kariuki, chief executive at UFAA agency, which holds unclaimed assets in trust for the rightful owners.

Shares of unknown value at the East Africa Breweries Limited (EABL) belonging to the family of Obama Senior, Barack Hussein Obama — a former senior economic analyst at the Treasury, who passed in a car accident in 1982 are being held by the Treasury.

The Treasury took over the shares last year, in addition to Obama life insurance cover that the UFAA has been holding since 2014.

Kibaki family has also sought to claim assets of former First Lady Lucy Kibaki at Co-operative Bank that were transferred to the authority in 2015, before passed away in April 2016.

Daniel arap Moi's family, is, however, yet to claim their property under State custody. Shares at EABL and Centum belonging to Moi’s wife Lena, who died in 2004, were surrendered to the Treasury in 2014 and 2015. “Moi’s family is yet to make any claim with us,” said Ms Kariuki.

Obama's life insurance amounting to Sh55,933 was surrendered to UFAA in 2014 from the defunct Kenya National Assurance Corporation. Obama senior had named his eldest son Roy Obama, also known as Malik, and his youngest wife, Jael Otieno as the heirs.

Former American President Barack Obama is among children from his marriage with Ann Dunham, whom he married while studying at the University of Hawaii in the US.