Fidelity bank card banner Emerald Energy Institute Camano banner

Student goes on spending spree after receiving $1m in error

By News Express on 31/08/2017

Gmail icon

Views: 1,507


A South African university is investigating how a student was mistakenly given a 14m rand ($1m; £770,000) loan.

The error became known after an image of a receipt showing the student’s account balance was widely shared.

A Walter Sisulu University (WSU) spokesperson accused the student of spending some of the money on a “lavish lifestyle”, Times Live reports.

The student, who has not been named, said she reported the mistake.

She has also been quoted as saying that she has returned the money.

‘Student liable’

But the university insists that the student will be “liable for every cent”, News24 quotes spokesperson Yonela Tukwayo as saying.

South African students receive loans, to cover textbooks, accommodation and food, through the National Student Financial Aid Scheme (NSFAS), and the money is meant to be paid back after graduation.

In theory, a student should only be able to spend it using a special card at designated shops.

NSFAS has blamed WSU for the error. In a statement issued on Twitter it said that it gives all the money to be paid to students to the university, which then passes it on.

“When a mistake occurs in these processes, it is in the hands of the university,” NSFAS said.

Credit (except headline): BBC

 

Source News Express

Posted 31/08/2017 2:25:26 PM

 

 

CLASSIFIED ADS

 

You may also like...
U.S. moves to help Nigeria defeat Boko Haram...

Eid-ul-fitri: Gov. Dickson sues for peace, religious tolerance...

2 million containers stranded in Lagos ports

Why the FG is committed to meeting broadcast...

Boko Haram: 7 wounded soldiers to be flown...

Auto crash: OOU students demand N80m compensation for...

2019: Northern royal fathers warn against rigging, malpractices...

Thank you so much Garba Shehu for this...

Man fakes orphanage ownership to get Customs’ seized...

Anambra leads in drug peddling — NDLEA

Is leadership really the main problem of Nigeria...

Africa’s longest-serving leader gets fresh term

 

Latest News Exodus hits Boko Haram, ISWAP as Nigerian Army, Joint Task Force step up onslaught Nnamdi Kanu speaks after presenting Biafra's case to UN Unknown gunmen shoot footballer dead Troops storm bandits’ camp, rescue 8 kidnap victims Court convicts two P&ID Directors for fraud; winds up company, orders assets forfeited to FG 5 persons kidnapped along General Buratai's village Wife docked for allegedly photographing husband without permission Mother, two children die after ‘Amala’ meal, father in critical condition JAMB suspends 13 exam centres over infractions Army dismisses rumour of impending attack on Maiduguri 2023: Zone presidency to south-east: Balarabe Musa 2 women docked over alleged N394,000 unpaid hotel bills

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (542,000 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (443,635 views) Shameless Genevieve Nnaji exposes breasts in public (390,042 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (327,039 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (295,146 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (253,894 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (250,117 views) 10 cars more expensive than Jets (238,766 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (231,810 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (217,809 views) Lagos plane crash: Journalist releases victims’ names (196,140 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (193,703 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (102) Business & Economy (4,451) Business Verdict (80) Columnists (1,112) Complaints & Requests (96) Enterprise & Opportunities (215) Entertainment (664) Features (813) Global Business Monitor (443) ICT Monitor (63) International (3,965) Interview (203) Live Commentary (30) Love Matters (170) Maggie's Blog (414) News (51,501) Opinion (1,360) Pidgin (17) Politics (11,454) Religion (1,102) Sports (2,171) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera