A former female employee of Achievers University in Owo, Ondo State, has been accused of orchestrating a massive fraud that saw the institution defrauded of N457,508,645.00. The Acting Vice-Chancellor, Professor Oyesoji Aremu, revealed this in a statement released on Monday, May 25, 2026.
How the fraud was executed
According to Professor Aremu, the suspect, an alumna of the university's Accounting Department, was later employed in the bursary department before resigning in April 2025. She allegedly hacked into the students' payment portal and lured 320 students into paying their school fees into her personal accounts. In return, she cleared their bills on the university portal, enabling them to obtain financial clearance without the university receiving the money.
Investigation uncovers scale of fraud
The fraud was uncovered during a Students' Fees Payment Audit Exercise concluded on Friday. The audit revealed that the fraudulent activities spanned three academic sessions: 2023/2024, 2024/2025, and 2025/2026. Many students were enticed by offers of discounted fees or commissions to pay into the suspect's account.
Professor Aremu stated: "The fraudulent activities affected three academic sections... 320 students paid a total sum of N457,508,645:00 school fees into the personal account of the said lady, who in turn fraudulently cleared such students on the portal without the university receiving the money."
Accomplices identified
The investigation also indicted 11 staff members, 34 students, and one external person working at the Federal Medical Centre, Owo, who acted as agents to recruit students for the fraudulent scheme. These individuals will face disciplinary committees accordingly.
- All 320 students involved will appear before the students' disciplinary committee.
- Six students who served as agents will also face the committee.
- The 11 staff members will face the senior staff disciplinary committee.
- The mastermind is under police investigation for subsequent prosecution.
The Acting VC emphasized that the university has clear fee payment procedures, and those who circumvented them will be held accountable. The case has been handed over to the police for further investigation and potential prosecution.
