According to Punch Newspaper, the institution announced on Monday that a newly completed audit of student fee payments revealed that 320 students sent payments to the private account of a former bursary employee across the 2023/2024, 2024/2025, and 2025/2026 academic years.
Acting Vice-Chancellor Prof. Oyesoji Aremu said the suspect, an Accounting graduate later hired in the bursary department, resigned in April 2025. She reportedly enticed students with promises of reduced fees and commissions, directing them to pay into her personal account. She then manipulated the university’s payment system to mark their bills as settled, enabling them to receive clearance without the school receiving any funds.
Investigators found that 11 staff members, 34 students, and one individual employed at the Federal Medical Centre, Owo, helped recruit participants for the scheme.
The 320 students involved, along with six students who acted as agents, will now appear before the university’s student disciplinary panel. The 11 staff members face the senior staff disciplinary committee, while the alleged ringleader is being investigated by the police ahead of possible prosecution.
Prof. Aremu said the audit is ongoing and will extend to payments made by students who graduated in the last two sessions. He noted that the university’s governing council has approved a fully transparent process to keep the community informed and curb the spread of rumors.