Achievers University, Owo, Ondo State, has uncovered a supposed N457.5 million school fees fraud including a former staff member, trainees, and a number of staff members of the organization following an internal audit of student payment records.
The development was divulged in a declaration released on Monday by the Acting Vice-Chancellor of the university, Prof. Oyesoji Aremu.
According to the institution, the supposed scams centred on a previous bursary worker and graduate of the university’s Accounting Department, who reportedly orchestrated a scheme that diverted school fee payments across three scholastic sessions.
The university stated the previous team member, who resigned in April 2025, apparently worked together with members of staff and trainee agents to persuade trainees to pay tuition charges into her personal savings account under the guise of affordable payments and commission rewards.
Preliminary findings from the audit supposedly showed that about 320 students paid a combined sum of N457,508,645 into the suspect’s account during the 2023/2024, 2024/2025 and 2025/2026 scholastic sessions.
The university alleged that students who made the payments were consequently granted monetary clearance through unauthorised adjustment of the institution’s payment portal, despite the university not receiving the funds.
The declaration even more suggested that at least 11 employee, 34 students, and an external collaborator connected to the Federal Medical Centre, Owo, were determined as individuals who apparently helped hire students into the plan.
“The examination exposed a coordinated network including representatives who motivated students to bypass official payment procedures,” the university mentioned.
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In reaction, the organization announced that all impacted trainees would appear before its Students’ Disciplinary Committee to represent their involvement and discuss their failure to comply with authorized charge payment standards.
Employee implicated in the matter are likewise anticipated to face the university’s Senior Personnel Disciplinary Committee, while the primary suspect is currently under police investigation.
The university divulged that the audit exercise stays continuous, with authorities extending examination to payments made by trainees who finished within the last two scholastic sessions.
It added that the institution had actually gotten governing council approval to preserve transparency throughout the investigation in a quote to curb misinformation and speculation within the university community.
Verifying police participation, the representative for the Ondo State Police Command, Abayomi Jimoh, said the main suspect had been jailed.
He kept in mind that investigations into the matter were continuing.