The troubled National Student Financial Aid Scheme (NSFAS) has moved to suspend CEO Steven Zwane with immediate effect, a week after the board of the multibillion-rand scheme was dissolved. Zwane, who has 15 years’ banking experience, joined NSFAS from Barclays in September 2017. "The suspension follows allegations of maladministration against Mr Zwane. "To ensure fairness and allow the process to proceed uninhibited, Mr Zwane has been relieved of his duties pending the outcome of the investigation," NSFAS spokesperson Kagisho Mamabolo said on Monday. Earlier in August higher education minister Naledi Pandor appointed Randall Carolissen as NSFAS administrator. This was after the resignation of board chair Sizwe Nxasana and board member Themba Mosia. "Dr Carolissen is in the process of reviewing governance at NSFAS. This is in line with the ministerial mandate to oversee the management, governance and administration of the entity. This includes all necessary forensic and other invest...

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