WSU blocks student account after R14m error

Walter Sisulu University mistakenly deposited R14 million into a student's bank account about 5 months ago.

Walter Sisulu University spokesperson, Yonela Tukwayo, says the matter was brought to their attention when a student came to complain about another student who was living a lavish life on a Nsfas budget.

She says the student went on to spend about half a million of the money they have received.

Read: WSU makes costly mistake by depositing R14 million into a students account

The balance has been removed from the students account and the account has been blocked.

Yonela Tukwayo, Walter Sisulu University spokesperson

Tukwayo says they have a meeting with Intellimali CEO - the service provider that distributes money to students - to find out how such an error occurred and why was it not picked up in time.

When books are balanced every month they should've been able to pick up there is a shortage in a pool of money that they pay from every month.

Yonela Tukwayo, Walter Sisulu University spokesperson

So far no student have come forward to complain about non payments but Tukwayo says the university will make sure no student is affected by this error.

She rubbished reports that the student tried to inform the finance office that there is R14 million in their account but was ignored. She says the student never came forward to report the matter.

We reminded the student that they signed a loan agreement form... she is aware that it is a loan and she is liable to pay back that money.

Yonela Tukwayo, Walter Sisulu University spokesperson

To hear the rest of the interview, listen below:

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