February 11 2016

Concern over dividend suspension by tertiary provider

The decision by education provider IEG to suspend dividends following its subsidiary Quantum being referred to the Serious Fraud Office underlines the serious issues facing the tertiary sector, says Associate Education spokesperson David Cunliffe.

“IEG, a publically listed company, is one of New Zealand’s largest providers of private tertiary education services.

“Three more providers, including Quantum, have now been referred to the SFO.

“Steven Joyce kept this secret until forced to answer questions from Labour.

“Mr Joyce is still refusing to name 27 out of 35 other tertiary institutions deemed by the NZQA as having ‘widespread or serious’ compliance issues who are under investigation.

“So what are you hiding, Mr Joyce? The public, and especially staff and students, deserve to know who they are,” says David Cunliffe.

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