Authorities of Achievers University have uncovered an alleged N457.5 million fraud involving a former female staff member and some students of the institution.
The Acting Vice-Chancellor of the university, Oyesoji Aremu, disclosed this in a statement issued on Monday in Owo, Ondo State.
Aremu alleged that the former bursary staff member, who is also an alumna of the institution, masterminded the fraud by hacking into the university’s payment portal and diverting students’ school fees into her personal accounts.
According to him, the suspect allegedly lured about 320 students into paying their fees into her private accounts by promising discounts and commissions.
He said the suspect subsequently cleared the students on the university portal, enabling them to obtain financial clearance without the institution receiving the funds.
“The fraudulent activities affected the 2023/2024, 2024/2025 and 2025/2026 academic sessions,” Aremu stated.
He explained that the fraud was uncovered during a students’ fees payment audit exercise concluded on Friday, which required all students to appear physically before an investigative panel.
The acting vice-chancellor further alleged that 11 staff members, 34 students and one external collaborator working at the Federal Medical Centre, Owo, acted as agents in recruiting students into the scheme.
According to him, the former staff member resigned from the university in April 2025 and is currently under police investigation for possible prosecution.
Aremu said all affected students, including six identified student agents, would appear before the university’s disciplinary committee to explain why they bypassed the institution’s official payment procedures.
He added that the implicated staff members would also face the university’s senior staff disciplinary committee over their alleged involvement in the fraud.
