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What the accidental student millionaire bought with NSFAS money

Sibongile Mani. Image: Supplied.

Sibongile Mani. Image: Supplied.

Published Aug 31, 2017

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JOHANNESBURG - While most university students struggle to pay back loans and look for food from caravans on the side of a road for a cheap price, one student from the Walter Sisulu University in Mthatha felt she hit the jackpot when R14.1-million was deposited into her bank account. 

At the begining of June, student, Sibongile Mani had money from a National Student Financial Aid Scheme (NSFAS) mistakenly deposited into her account.

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The second-year accountancy student then began her spending spree, forking out on average, about R11 000 a day. 

According to reports, Mani, had treated herself and friends to brand new iphone 7 smart phones, along with expensive weaves, (Peruvian hair), bottles of whiskys worth R700 along with designer clothing and accessories. 

Samkelo Mqhayi, deputy branch secretary of Sasco and SRC student support officer, told Times Live, "Suspicions grew after a receipt from Spar was leaked showing a balance of just over R13.6-million. I called NSFAS offices to check if this was true and NSFAS confirmed that the initial amount was R14-million. "Obviously, after the slip was trending on social networks students started connecting the dots on how she has been living a luxurious life in the past few months."

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Times Live further reported that Michael Ansell, CEO of IntelliMali, the company that administers NSFAS payments to WSU students, said it paid her in error, and would investigate a case of fraud.

It is believed that University spokesman Yonela Tukwayo said that the university would make Mani repay the money.

I can't name the faculty members I met with as I've been told to keep those details until I'm official probed

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— Sibongile Money (@SibongileMani) August 30, 2017

 

I received my stipend on thursday an did not pay much attention to it until the weekend that's when i noticed the large figure

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— Sibongile Money (@SibongileMani) August 30, 2017

 

#NSFAS it wasn't a mistake. How do you mistake R1400 for R14 million?

— Sibongile Money (@SibongileMani) August 30, 2017

- BUSINESS REPORT ONLINE

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