Achievers University has revealed that a recent audit of students’ fee payments uncovered an alleged fraud involving staff members and students, with losses amounting to N457,508,645.
The institution disclosed that the Students’ Fees Payment Audit Exercise ended on Friday and exposed a scheme in which some workers and students allegedly manipulated the university’s payment portal.
According to the university, the suspects reportedly redirected school fee payments from students into the personal account of a former female employee while still processing financial clearance for the affected students on the institution’s portal.
Acting Vice-Chancellor, Oyesoji Aremu, made this known in a statement released on Monday.
He explained that every student was required to appear before an investigative committee because the alleged fraud spanned the 2023/2024, 2024/2025, and 2025/2026 academic sessions.
According to the statement, “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 university stated that 320 students allegedly paid a combined total of N457,508,645 into the former worker’s personal account, after which their payments were fraudulently cleared on the school portal despite the institution not receiving the money.
“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,” the statement added.
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The institution further alleged that 11 members of staff and 34 students acted as agents for the scheme by encouraging other students to participate.
It also claimed that an external collaborator working at Federal Medical Centre was linked to the operation.
Aremu stated that all affected students and those accused of acting as agents would appear before the university’s disciplinary committee.
“The 11 members of staff who infamously acted as agents for the said mastermind will also face the senior staff disciplinary committee, while the said mastermind is under police investigation for subsequent prosecution,” he said.
The acting vice-chancellor added that the institution would continue auditing fee payments made by students who graduated within the last two academic sessions.
“We have the approval of Council to exhibit absolute transparency in handling the investigation and dissemination of information to the university community, so as to eliminate rumor mongering and misinformation,” the statement concluded.