Johnathan Paoli
THE Special Investigating Unit (SIU) has announced that it has so far made a recovery totaling R737 926 351, with the figure including R688 220 611.56 in unallocated funds and signed acknowledgment of debt agreements of R49 705 739.60 as part of an investigation into the affairs of NSFAS.
The SIU was presenting its findings to Parliament’s Standing Committee on Public Accounts (SCOPA) on Wednesday in Cape Town and said that the unallocated funds were due to poor control systems and a lack of reconciliation processes by NSFAS and were not collected from institutions of higher learning.
When approached by the SIU, the institutions subsequently cooperated, which led to a quick recovery process.
Institutions of Higher Learning that was approached by SIU included; West Coast College, Northlink College, Walter Sisulu University, Nkangala TVET, University of Johannesburg, University of Zululand, University of Pretoria, Majuba TVET College, and the University
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