R14m student blunder: Parliament seeks answers

2017-09-13 05:42

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

Cape Town – The National Student Financial Aid Scheme (NSFAS), Walter Sisulu University and Intellimali will appear before the parliamentary committee on higher education and training on Wednesday to explain how R14.1m was paid out to one of the university's students.

Sibongile Mani was due R1 400 as a recipient of a NSFAS loan, but reportedly received R14.1m instead. Financial aid transactions are processed by Intellimali on behalf of the university.

Mani allegedly spent R818 000 before the mistake was discovered. 

The balance of the money has been retrieved. Mani is being held liable for the outstanding amount.

The three organisations appointed an audit firm to institute a forensic investigation into the matter.

Read more: Forensic investigators appointed to probe R14m NSFAS payout

"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 the joint statement at the beginning of September. 

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

Extra zeroes being investigated

Mamabolo said Intellimali had reimbursed the university the full amount spent by the student, from its own company finances.

Intellimali previously said it had opened a case of theft against Mani and that it was cooperating with law enforcement authorities in their investigation.

CEO Michael Ansell said the student allegedly "misappropriated" the money when it was deposited into her account.

He claimed that the figures for intended amount of R1 400 had been checked before the money was deposited.

His company is also investigating where the extra zeroes came from.

Read more on:    nsfas  |  walter sisulu university

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.