A major tuition payment fraud has rocked after the institution uncovered an alleged N457.5 million scam involving a former female bursary staff member, students, and some university employees.
The university disclosed that a recently concluded Students’ Fees Payment Audit Exercise revealed that 320 students allegedly paid their school fees into the personal account of the ex-worker instead of the institution’s official accounts over three academic sessions.
In a statement issued on Monday, the acting Vice-Chancellor, , said the fraud was uncovered after an extensive audit covering the 2023/2024, 2024/2025, and 2025/2026 academic sessions.
According to the university, the former staff member, an alumna of the institution’s Accounting Department who later worked in the bursary unit before resigning in April 2025, allegedly masterminded the scheme by hacking into the university’s payment portal.
The statement explained that the suspect and her collaborators reportedly cleared students on the university portal after receiving payments in her private account, enabling the affected students to obtain financial clearance without the institution receiving the funds.
“The fraudulent activities affected three academic sessions, and 320 students paid a total sum of N457,508,645 into the personal account of the said lady, who in turn fraudulently cleared such students on the portal without the university receiving the money,” the statement said.
The university further alleged that some students were enticed into the illegal arrangement through promises of discounted fees and commission payments.
Investigations also reportedly indicted 11 members of staff, 34 students, and an external collaborator said to be working at the for allegedly acting as agents in recruiting students into the scheme.
The management said all implicated students would face the Students’ Disciplinary Committee, while the indicted staff members would appear before the Senior Staff Disciplinary Committee.
The university added that the former bursary worker is currently under police investigation and may face prosecution upon the conclusion of the probe.
Aremu stated that the institution had received approval from its governing council to ensure transparency in the investigation process and prevent misinformation within the university community.
He also disclosed that the audit exercise would continue, with payment records of graduates from the last two academic sessions also set for review.
