Higher Education Minister Blade Nzimande yesterday said he dissolved the embattled National Student Financial Aid Scheme (NSFAS) board because of the members' inability to carry out and implement basic responsibilities, including overseeing the payment of student allowances.

As previously reported, the board was dissolved on Thursday and he placed the government entity under administration.

TimesLIVE reports that the administrator will manage its day-to-day affairs and ensure it addresses its operational challenges, Nzimande said in a Government Gazette notice on Friday.

‘This will include strengthening structures, systems and policies that will ensure good governance and effective management of the operational mandate of NSFAS and oversee forensic and other investigations necessary for the effective operation and management of the entity’. 

News24 reports that he appointed the former CEO of the SA Institute of Chartered Accountants, Freeman Nomvalo, as the administrator for NSFAS.

‘As Minister, I have consistently raised my concerns and unhappiness with the outgoing NSFAS board about its inability and failure to carry out and implement some of its basic responsibilities that I have allocated to it,’ he said.

Business Day reports that Nzimande said forensic investigations were close to completion and promised there would be accountability.

‘Yes, people will account. One of the things we want the administrator to do is to implement the recommendations of forensic auditors. I want the people fingered to be brought before disciplinary committees as soon as possible,’ he said.

He added that NSFAS faced serious challenges in its business processes, IT systems, capacity, policy, and controls, which negatively impacted students and caused severe reputational damage.

Full TimesLIVE report

Full News24 report

Full Business Day report