Massive plunder at Higher Education Students Loans and Grants Board-Report
An investigative audit report at Higher Education Students Loans and Grants Board (HESLGB) has revealed massive plunder of university students’ loans between 2019-20 academic year.
The report indicates that, out of K1.3 billion that was disbursed by HESLB, K1.1 billion was disbursed dubiously.
The wasted resources represent 90 percent of the amount that poor students were supposed to get.
The report further indicates that 14 percent was irregularly claimed by universities between 2018 and 2019.
“One unregistered university benefitted 590 million kwacha from the suspicious payments,” report
The audit has recommended that the board of directors and management should consider referring the matter to the office of AG for further investigation on fraud and money laundering.
