The office of the auditor-general (AG) on Wednesday laid bare the disarray at the National Student Financial Aid Scheme (NSFAS), describing to parliament how the organisation’s failure to supply credible financial statements and performance reports had led to an adverse audit finding for 2021/22, its worst audit outcome in the past five years.

NSFAS is the government’s key agency for providing financial support to eligible students to study at tertiary education institutions and has been dogged by controversy for years. It was placed under administration between 2018 and 2020, and more recently rocked by corruption allegations levelled against former CEO Andile Nongogo and former board chair Ernest Khoza...

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