Inside the Discovery of N457m School Fees Fraud at Achievers University
What began as a routine students’ fees payment audit at Achievers University, Owo, Ondo State, has uncovered an alleged N457,508,645 school fees fraud scheme involving staff members, students and a former employee accused of masterminding the operation.
The revelation was contained in a statement issued on Monday by the Acting Vice-Chancellor of the university, Prof Oyesoji Aremu.
According to the statement, the female suspect, an alumna of the Department of Accounting of the university and a former bursary staff member, allegedly worked with no fewer than 11 staff members to lure students into paying school fees into her personal account with promises of discounted fees and commissions.
The university alleged that the accused persons hacked into the students’ payment portal and induced about 320 students to divert their school fees into the ex-staff member’s account, while the students were fraudulently cleared on the university portal to obtain financial clearance.
The statement indicated that the alleged fraud spanned the 2023/2024, 2024/2025 and 2025/2026 academic sessions.
It read in part, “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 fraudulent activities affected three academic sessions: 2023/2024, 2024/2025, and 2025/2026 Academic Sessions. About 320 students paid a total sum of N457,508,645.00 in 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 with offers of discounted fees and commissions.
“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 the Federal Medical Centre, Owo, was also indicted as having served as an agent in the fraudulent activities.”
The Achievers University boss noted that all the 320 indicted students, as well as six students who allegedly acted as agents, would face the Students’ Disciplinary Committee to explain what motivated them to disregard the institution’s established fee payment procedures.
According to the statement, the audit exercise required every student to appear before an investigative committee, as the alleged fraud took place across three academic sessions.
“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,” it added.
Aremu further disclosed that the students’ fees payment audit would continue, noting that every payment made by students who graduated in the last two sessions would be carefully scrutinised.
“We have the approval of Council to exhibit absolute transparency in handling the investigation and dissemination of information to the university community, to eliminate rumour mongering and misinformation,” the statement concluded.
Meanwhile, the Ondo State Police Public Relations Officer, Abayomi Jimoh, confirmed that the principal suspect had been arrested.
“Investigation is ongoing. She has been identified and arrested,” he said.
Credit: ThePunch
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