SIU recovers R33m from Cape Town college
The Special Investigating Unit (SIU) has recovered more than R33
million from Northlink College in Cape Town.
The seizure comes amid a probe by the SIU into corruption and negligence at National Student Financial Aid Scheme (Nsfas).
SIU spokesperson Kaizer Kganyago says the college failed to allocate funds to students between 2017 and 2021.
"The TVET college stated to the SIU that it is fully aware that the funds should have been returned to the NSFAS, but Northlink College has failed to do so, and instead decided to invest the funds and would return the funds on request from Nsfas.
"The SIU is currently calculating interest earned from the investment from the commencement date, and such interest would have to be paid into the SIU trust account.
"The SIU investigation focuses on maladministration at Nsfas regarding two functions of the organisation. The first part will look into the management of Nsfas' finances."
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