SIU recovers almost R1bn in Nsfas funds from higher learning institutions

Special Investigating Unit

President Cyril Ramaphosa in August last year authorised the unit to investigate allegations of corruption and maladministration at the scheme.After investigations, the SIU revealed there was R400 million that still needed to be recovered from the University of Pretoria and just above R311 million from the University of Johannesburg .

These are funds for students who qualified for funding, but either changed institutions or deregistered. While the funds should stay in the possession of the institution for just a year, UP had been sitting with the funds for years due to“These control weaknesses have led to overpayments and underpayments of funds to the different institutions over the period 2017 to date,” said the SIU.

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