Achievers University has uncovered an alleged tuition payment fraud involving a former female employee, some staff members and students, with the institution claiming losses of N457.5 million.
The university said its Students’ Fees Payment Audit Exercise, concluded on Friday, revealed that 320 students allegedly paid their school fees into the personal account of the former bursary staff member instead of the institution’s official account.
In a statement issued on Monday, the Acting Vice-Chancellor, Oyesoji Aremu, said the suspect, an alumnus of the university’s Department of Accounting, allegedly manipulated the students’ payment portal and cleared the students financially without the university receiving the funds.
According to the statement, the former employee resigned from the university in April 2025.
Aremu said the fraud affected the 2023/2024, 2024/2025 and 2025/2026 academic sessions.
“The exercise revealed that 320 students paid a total of N457,508,645 into the personal account of the former worker, who fraudulently cleared them on the university portal without the institution receiving the money,” the statement said.
The university alleged that the students were persuaded to pay into the account with promises of discounted fees and commissions.
The institution also accused 11 staff members and 34 students of acting as agents by recruiting students into the scheme. An external agent said to be working at Federal Medical Centre Owo was also indicted.
The university said the 320 students involved, along with six students identified as agents, would appear before the students’ disciplinary committee.
The 11 staff members accused of participating in the scheme are also expected to face the senior staff disciplinary committee, while the alleged mastermind is currently under police investigation for possible prosecution.
Aremu added that the audit exercise would continue, including a review of payments made by students who graduated in the last two academic sessions.
He said the university had received approval from its governing council to ensure transparency in handling the investigation and communicating developments to members of the university community.
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