Namibia Future Media Future Media News

Outdated personal details hamper efforts to recover N$1.1 billion in unclaimed funds

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Financial institutions and regulators are renewing calls for Namibians to update their personal records, following reports that roughly N$1.1 billion in unclaimed funds is sitting uncollected across the country. The figure covers dormant bank accounts, forgotten life policies, and unallocated pension or investment payouts. Authorities warn that outdated contact details and missing beneficiary nominations remain the biggest hurdles to tracing rightful owners and their families. Future Media News spoke to consumer rights expert Milton Louw, who has been collecting names and publishing them online in a bid to get the money claimed.
13 Nov 12AM English Namibia News

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