Sibongile Mani. File image: IOL.
Sibongile Mani. File image: IOL.
File image: IOL.
File image: IOL.
Sibongile Mani. File image: IOL.
Sibongile Mani. File image: IOL.

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.

READ ALSO: Conspiracies behind student millionaire, says DA

- BUSINESS REPORT ONLINE