Achievers University in Owo, Ondo State, has announced the conclusion of its Students’ Fees Payment Audit Exercise, revealing that staff and students defrauded the institution of more than N457 million. The university said the fraud involved hacking into its payment portal and luring 320 students to pay fees into the personal account of a female staff member, who then cleared their bills on the portal to enable financial clearance.
Acting Vice Chancellor Prof. Oyesoji Aremu disclosed that the fraud spanned three academic sessions between 2023 and 2026. The mastermind, an alumna of the university’s accounting department who later worked in the bursary, resigned in April 2025. Eleven staff members, 34 students, and one external agent were also implicated in recruiting students into the scheme.
The university said all 320 students involved, along with those who acted as agents, will face the students’ disciplinary committee. Staff members implicated will appear before the senior staff disciplinary committee, while the alleged mastermind is under police investigation for prosecution.
Prof. Aremu emphasized that the fraudulent activities were carried out by offering discounted fees and commissions to students, which motivated them to bypass official payment procedures. He said the audit exercise required every student to appear before an investigative committee to verify payments.
The university stressed that the 5 percent Ticket and Cargo Sales Charge collected through the portal is a statutory requirement under the Civil Aviation Act and should not be treated as personal revenue. It added that the funds are critical to sustaining oversight and regulatory functions.
Describing the suspension as a balancing act, the university council approved transparency in handling the investigation to eliminate misinformation. Prof. Aremu said the audit would continue, covering payments made by students who graduated in the last two sessions, to ensure accountability and restore confidence in the institution’s financial system.
