This is the first recovery of government money since the SIU was authorised by a proclamation signed by President Cyril Ramaphosa in August to investigate alleged corruption and maladministration at the NSFAS.

After the announcement of the proclamation, the college informed the SIU it received more than R33m from the NSFAS that was not allocated to students between 2017 and 2021 and had invested it without authorisation.

“The TVET college told the SIU it is fully aware the funds should have been returned to the NSFAS, but Northlink College failed to do so and instead decided to invest the funds. It said it would return the funds on request from the NSFAS,” the SIU said.

The SIU is also investigating related unauthorised, irregular or fruitless and wasteful expenditure incurred by the NSFAS or the state, including the causes of maladministration.

The SIU is probing unlawful or improper conduct by employees or officials of the scheme or the service providers in question, their employees or any other person or entity.

The proclamation covers allegations of unlawful and improper conduct that took place between April 1 2016 and August 26 this year.