WSU student accidentally receives R14m NSFAS deposit

A Walter Sisulu University student who accidentally received a whopping R14-million National Student Financial Aid Scheme pay-out has already spent about half a million of it, the university confirmed on Tuesday.

”I can confirm that she received R14-million into her Intellicard account,” said university spokesperson Yonela Tukwayo.

”I can also confirm that the student is liable for every cent,” said Tukwayo.

She explained that the company which facilitates the student payments, should have detected the blunder immediately after it was made earlier this year.

The university is meeting the company on Tuesday afternoon to receive a report on the matter and is also conducting its own forensic investigation.

Tukwayo said the student had reported it to the university, but had allegedly spent R500 000 of it in the past five months.

Funds reversed
Pan Africanist Student Movement of Azania (Pasma) academic officer Lwando September confirmed that the student concerned was Sibongile Mani, a secretary general for the East London branch of the movement, but said she would not be conducting interviews.

However he verified that a Facebook post by Mani over the incident was legitimate.

In the post she admits receiving the money, and said it has been reversed.

”The answer is simple NSFAS made a mistake and allocated more money in a wrong account and that account happened to be mine,” she wrote.

”So I am not denying anything, the money was indeed loaded on the 1st of June and reversed on the 13th August .”

She questioned why her short-lived good fortune was made public and felt the Student Representative Council did not have her back.

”As a responsible person and a member of Pasma not just a member but a leader of students I went straight to the SRC to report this matter.”

NSFAS issued a series of tweets distancing itself from the bonanza pay-out, shifting the blame to IntelliMali, the company that runs the Intellicard system which pays and administers student funds.

In the meantime, Intellicard blocked her account.

Tukwayo said that the overpayment is currently having no effect on the payment of loans to other students, but it still needs to determine how it will affect future payments. – News24

Jenni Evans
Jenni Evans
Journalist at News24. Love reading, sunshine.
Advertisting

Hosni Mubarak is dead, but the Egypt he built is...

Despite the efforts of the Arab Spring, Egypt is still led by a military dictatorship made in Mubarak’s image

Inside the Security Branch: Torture between brandy and boerewors

A former SB operative, Paul Erasmus, talks about the torture of a young trade unionist, Neil Aggett, and the machinations at John Vorster Square
Advertising

Press Releases

South Africa’s education system is broken and unequal, and must be fixed without further delay

The Amnesty International report found that the South African government continues to miss its own education upgrading targets

Business travel industry generates billions

Meetings Africa is ready to take advantage of this lucrative opportunity

Conferences connect people to ideas

The World Expo and Meetings Africa are all about stimulating innovation – and income

SAB Zenzele Kabili B-BBEE share scheme

New scheme to be launched following the biggest B-BBEE FMCG payout in South Africa’s history

TFSAs are the gymnasts of the retirement savings world

The idea is to get South Africans to save, but it's best to do your research first to find out if a TFSA is really suited to your needs

Achieving the litmus test of social relevance

The HSS Awards honours scholarly works based on their social relevance and contribution to the humanities and social sciences

Making sense of tax-free savings and investment

Have you made the most of your tax-free investment contributions?

Response to the report of the independent assessors

VUT welcomes the publishing of the report of the independent assessors to investigate concerns of poor governance, leadership, management, corruption and fraud at the university.