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September 30, 2026
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NCA Issues Fresh Directive to All Contractors

NCA Issues Fresh Directive to All Contractors

The directive is likely to affect the financial records of contractors, requiring them to identify, report and surrender some financial assets in their possession...

✨ Key Highlights

The National Construction Authority (NCA) has mandated all registered contractors to identify, report, and surrender historical unclaimed financial assets to the authority. This directive aims to consolidate these assets for eventual return to their rightful owners.

  • Contractors must remit qualifying unclaimed assets, including those predating the Unclaimed Financial Assets Act, 2011, by November 1, 2026.
  • The NCA is enforcing this obligation under the Unclaimed Financial Assets Act, 2011.
  • Failure to comply could result in fines and penalties as per Section 33 of the Act, with assets held by the government including over Ksh106 billion as reported by the Unclaimed Financial Assets Authority (UFAA).

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