Achievers University has uncovered a suspected school fees fraud amounting to N457.5 million following an internal audit of students’ payments spanning several academic sessions.
The Acting Vice-Chancellor, Oyesoji Aremu, revealed this in a statement on Monday, noting that the audit was completed last Friday.
According to the institution, the fraud allegedly involves a former female staff member of the bursary department, accused of breaching the university’s payment portal and diverting students’ fees into her personal bank account.
The university disclosed that about 320 students reportedly paid a total of N457,508,645 into the suspect’s account during the 2023/2024, 2024/2025, and 2025/2026 academic sessions, while their payment records were falsely cleared on the institution’s portal without the funds being remitted.
It further explained that the suspect, an alumna of the Accounting Department who later worked in the bursary unit, resigned from the university in April 2025.
The statement indicated that several students were allegedly enticed to pay into the personal account with promises of discounted fees and commissions.
The audit also uncovered the involvement of 11 staff members, 34 students, and an external collaborator linked to a Federal Medical Centre, who allegedly acted as agents by recruiting others into the scheme.
Aremu stated that affected students, including those identified as agents, would face the Students’ Disciplinary Committee to account for their actions and explain why they bypassed official payment channels.
He added that implicated staff would be investigated by the Senior Staff Disciplinary Committee, while the alleged mastermind is currently under police investigation and could face prosecution.
The Vice-Chancellor also noted that the university would extend its audit to cover fee payments made by graduates from the past two academic sessions.
He assured that the governing council has approved full transparency in handling the investigation and in providing updates to the university community to prevent misinformation.