A TVET college has turned over at least R33 million to the Special Investigating Unit (SIU), which was intended for funding students through the National Student Financial Aid Scheme (Nsfas).
Northlink College reportedly told the SIU about the funds after President Cyril Ramaphosa signed a proclamation allowing the corruption-busting squad to look into Nsfas' business, according to SIU spokesperson Kaizer Kganyago.
The college informed the SIU that it received over R33 million from NSFAS that was not allocated to students between 2017 and 2021 and had invested it without authorisation.
Kganyago continued by stating that North Link College informed them that they intentionally chose to invest the funds instead of returning them to Nsfas, despite being aware of that.
According to the proclamation made by President Ramaphosa, the unit is authorised to investigate allegations of corruption and poor management at NSFAS and recover any financial damages incurred by the State due to corruption and mismanagement.
Additionally, the SIU is also investigating any associated unlawful, irregular, or wasteful expenditures made by the State or Nsfas, as well as the reasons for maladministration.
The SIU is also probing any illegal or improper measures undertaken by NSFAS officials, service providers in question, their employees, or any other person or organisation.
The SIU spokesperson also pointed out that the president's proclamation spans a period of about six years, from 2016 to August of this year. The investigation will also reportedly focus on allegations of "unlawful and inappropriate behaviour that took place" within the financial aid scheme.
