Forensic investigators appointed to probe R14m NSFAS payout

2017-09-09 14:51

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Port Elizabeth - The National Student Financial Aid Scheme (NSFAS), Walter Sisulu University (WSU) and IntelliMali have agreed to a full forensic investigation into how R14.1m was paid out to one of the university’s students.

Walter Sisulu University student Sibongile Mani was due R1 400 as a recipient of NSFAS loan, but reportedly received R14m instead. The transactions between students are done via Intellimali on behalf of the university.

Mani allegedly spent R818 000 before being found out.

The three organisations have since appointed a credible audit firm to institute a forensic investigation into the matter.

"We believe that the forensic investigation is the only way to get to the bottom of the matter and have committed to participating fully with the process," NSFAS spokesperson Kagisho Mamabolo said in a joint statement for the three organisations.

"Upon the conclusion of investigation, the parties have committed to implementing the findings and will sharing them with all relevant stakeholders."

No public funds lost

WSU Vice Chancellor Prof Rob Midgley expressed gratitude that IntelliMali had taken full responsibility for the error and took steps to reimburse the R818 000 loss.

"Following preliminary assessments, NSFAS and WSU can confirm that no employee on either part, has been found to have been involved in the erroneous crediting of the R14.1m into the student's IntelliCard account," said Mamabolo.

WSU spokesperson Yonela Tukwayo said no steps had been taken by WSU against Mani.

"The university has opted to await the outcomes of the forensic investigation before considering any further steps. The university is also providing counselling to the student to ensure that she continues with her studies," she said.

The three organisations wanted to assure the public that no public funds had been lost in the unfortunate process that led to the R14m error, and the R818 000 that was subsequently misappropriated by the student.

"Preliminary investigations by the service provider have established that these funds belonged to the university, and not NSFAS as initially believed," said Mamabolo.

They also stated that IntelliMali has reimbursed WSU the full amount misappropriated by the student, from its own company finances.

IntelliMali confirmed they had opened a case of theft against Mani and were cooperating with law enforcement authorities in their investigation.

'No other student affected'

"No other student at WSU has been affected by this error, and all remaining student allowances will continue to be managed efficiently by IntelliMali," said IntelliMali CEO Michael Ansell.

Ansell explained that when IntelliMali received an upload via email, the allowances were checked by the Uploads team.

"Once all the checks have been completed, the allowances are uploaded by a separate team in the finance department

"These allowances are in the form of a 'credit' and no money is deposited into a bank account or given to a student in the form of cash."

The allowance is only made available within a 'closed-loop' system environment, said Ansell.

The three institutions said they would not engage further with the media regarding the matter, to allow all investigations to conclude.

"New information will be communicated when the outcomes of the forensic investigation are available," said Mamabolo.

Read more on:    south africa  |  nsfas

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X

Inside News24

 
Watch: Investing in the future through child development

An investment of R32-million into 11 early childhood development centres is changing the future for children in the Northern Cape.

/News
Traffic Alerts
Traffic
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.