The National Student Financial Aid System is in the headlines again, over NSFAS ghost accounts allegedly funnelling money …
Tens of thousands of NSFAS ghost accounts to be probedA switch to direct payments of student aid has revealed a series of NSFAS ghost accounts, says the scheme. Image: File/Fotor
However, it has now launched yet another investigation into the legitimacy of its payment scheme. This comes after tens of thousands of so-called beneficiaries failed to provide proof that they are enrolled anywhere or have valid bank accounts, reportsFirst the NSFAS booted the third-party service providers accused of mismanaging student funds. Now it’s emerged they may have been running nefarious NSFAS ghost accounts, too. Image: Filecould do without right now.
Even former Minister Blade Nzimande became mired in corruption allegations over third-party tenders back in 2023. Image: File Central to the discovery of these NSFAS ghost accounts is the new process of direct payments to students. By circumnavigating the intermediaries, each transaction costsper transaction via the third party. The four companies whose contracts have been terminated are: Coinvest, eZaga, Noracco and Tenet Technology. It’s understood that each contract is valued at, otherwise known as The Hawks, is already investigating alleged corruption, maladministration and mismanagement of the NSFAS.
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