CAPE TOWN - National Student Financial Aid Scheme (NSFAS) responds to the student millionaire scandal by setting the record straight on the matter.
This follows the staggering R14.1 million incorrect payment credited into a Walter Sisulu University (WSU) student Sibongile Mani's account.
The payment, intended to merit the student's account by only R1 400, has been placed under forensic investigation.
The 3 involved parties in this scandal have confirmed the following:
- No public funds were lost in the process of the R14.1 million payment and the misappropriated R818 000.
- IntelliMali reimbursed WSU from its own company finances the full amount misappropriated by the student.
- NSFAS and IntelliMali confirm that no employee on either part have been found to be involved in the crediting of the R14.1 million into the student's IntelliCard account.
- IntelliMali appointed a credible audit firm to institute a forensic investigation into the matter.
- A case of theft has been opened against the student by IntelliMali.
- The matter did not affect any other student at WSU, with all allowances remaining to be managed by IntelliMali.
- BUSINESS REPORT ONLINE