The management of Achievers University in Owo, Ondo state, says its students’ fees payment audit showed that a former staff member and some students defrauded the institution of N457,508,645.
In a statement, Oyesoji Aremu, the acting vice-chancellor of
the university, said the audit revealed that the alleged perpetrators hacked
into the school’s payment portal.
The university alleged that the perpetrators deceived 320
students into making payments into the account of a female staff member.
The staff was said to have cleared the students’ outstanding
fees, allowing them access to their clearances.
Aremu said the investigation revealed that the crime was
committed during three academic sessions — 2023/2024, 2024/2025, and 2025/2026.
The school noted that the staff member was a former student
of the institution who resigned from her position in April 2025.
“The exercise has revealed that the fraud was masterminded
by a female worker, an alumnus of the Department of Accounting of our
university, who was later employed to work at the university bursary. She
resigned from the services of the university in April 2025,” the statement
reads.
“The fraudulent activities affected three academic sections:
2023/2024, 2024/2025, and 2025/2026 Academic Sessions and 320 students paid a
total sum of N457,508,645:00 school fees into the personal account of the said
lady, who in turn fraudulently cleared such students on the portal without the
university receiving the money.
“Many of the students were lured to pay into her account by
the offer of discounted fees/commission.
“Eleven members of staff and 34 students were used as agents
of the said female worker to ‘recruit’ students for the fraudulent activities.
One external person working at Federal Medical Centre Owo was also indicted as
having served as an agent of the fraudulent activities.”
The acting VC said the six students who were indicted with
the staff, and the 320 who paid the fees, will be referred to the students’
disciplinary committee.
He added that the school will also review the payments made
by students who graduated from the institution since 2024.
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