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SIU to investigate WSU student after R14m bungle

Funding administrative company IntelliMali, which is responsible for the deposit, is taking legal action against the student for not reporting the bungle.

A receipt from a grocery store showing a balance on a Walter Sisulu University student's account of more than R13 million. Picture: Supplied.

JOHANNESBURG – The Special Investigating Unit (SIU) has been roped in to probe how a Walter Sisulu University (WSU) student who mistakenly received over R14 million was able to convert her allowance for cash to splurge on luxury goods.

Funding administrative company IntelliMali, which is responsible for the deposit, is taking legal action against the student for not reporting the bungle.

It’s understood she’s spent over R800,000 on lavish goods since the money was deposited in her account in June.

The university says food and books allowances can only be spent at specific merchants associated with the university.

Spokesperson Yonela Tukwayo said: “You can’t draw from the Intelli card because you know students will spend that money on other things other than the food and the books that it’s meant for by Nsfas. So the investigation is also to check how she was then able convert some of that money to cash.”

RECOUP THE MONEY

On Wednesday EWN reported that Nsfas had asked the WSU management to urgently recoup the R14 million.

Nsfas spokesperson Kagisho Mamabolo said that had never happened before.

“We are shocked by this and as I said it’s a process that’s not managed by the university. The university has nothing to do with Nsfas at the moment.”

INCIDENT AN 'EYE-OPENER' FOR NSFAS

It's also emerged that the student who mistakenly received the money from Nsfas spent close to a R1 million in less than three months.

It emerged on Tuesday through social media that the young woman received the millions on her student card.

On Wednesday morning the university confirmed it's investigating the erroneous transaction.

Mamabolo said the incident had been an eye opener for them.

“It also re-emphasises the opportunity that we have had to fully roll out the student centred model system which centralises the payment of the funds from Nsfas directly to the student so that we can eliminate any other human error.”

(Edited by Leeto M Khoza)