NSFAS sacks CEO Andile Nongogo

The student financial aid scheme's board chairperson Ernest Khoza told Parliament's Standing Committee on Public Accounts on Tuesday morning, that the decision was taken on Monday night.

 An investigation into alleged irregularities at the entity last week found there was a conflict of interest and irregular appointments linked to him.

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In August, NSFAS board appointed Werksman’s Attorneys and Advocate Thembeka Ngcukaitobi to investigate alleged irregularities in the awarding of contracts for the direct payment system.

Students, supported by civic organisations and political parties, have criticised the system, which has been marred by delays in the payment of student allowances.

The fund runs a budget of nearly R50 billion, servicing over one million students across the country's universities and colleges.

Khoza said the decision is part of consequence management.

"We are satisfied that the process is done - run by a judge, identified experts legally unlike any process that is run internally where you might then suggest there could be bias or there could be lack of objectivity in the process."