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Nsfas R14m bungle: IntelliMali opens case of theft

R14 million was mistakenly deposited into a student's account from Nsfas.

FILE: A receipt from a grocery store showing a balance on a Walter Sisulu University student's account of R14 million. Picture: Supplied.

JOHANNESBURG - Eastern Cape police have confirmed a case of theft case has been opened in connection with the overpayment of National Student Financial Aid Scheme (Nsfas) funds to a Walter Sisulu University (WSU) student.

R14 million was mistakenly deposited into a student's account from Nsfas.

The matter came to light when the student's receipt with a multi-million rand balance was posted on social media.

The police's Mirinda Mills said: “Officials laid a charge of theft at the police station today and the case has been assigned to a senior investigator.”

LEGAL ACTION

Last week EWN reported that legal action would be taken against the student who failed to disclose an erroneous deposit of R14 million from Nsfas into her account.

Funding administrative company IntelliMali says instead of reporting the error, the young woman helped herself to the cash and managed to spend close to R1 million since June.

In a statement, the company said the student was supposed to receive R1,400.

IntelliMali also says it takes full administrative and financial responsibility for the bungle.

University spokesperson Yonela Tukwayo said: “It was raised by one of the students on Monday. We contacted Nsfas and then there was the whole media storm around her receiving the money. But we picked it up before.”

(Edited by Winnie Theletsane)