Breaking News: JAMB Remits Over N2 Billion to FG for 2023 UTME

JAMB Remits Over N2 Billion to FG for 2023 UTME

The Joint Admissions and Matriculation Board (JAMB) announced on Monday that it has transferred more than N2 billion to the Federal Government as its interim surplus for the operational year 2023. The board stated that additional remittances will be made as its activities for the year are concluded.

JAMB’s remittance is a result of the commitment made by the Is-haq Oloyede-led management to utilize technology and discipline in managing the board’s affairs. According to the board’s spokesperson, Fabian Benjamin, since Oloyede assumed office, over N55 billion has been remitted to the Federal Government’s coffers.

The statement by the board highlights the significant increase in remittances compared to the less than N60 million remitted in the 38 years prior to Oloyede’s appointment. The current Registrar introduced a policy that prioritizes transparency and accountability in all board activities. As a result, JAMB now contributes substantial returns to the Consolidated Revenue Fund (CRF).

JAMB attributed the increased remittances to its enhanced internal capacities and streamlined processes, resulting in cost savings. For instance, the board reduced its payment to a service provider from N1.2 billion to about N400 million annually. In addition, JAMB recovered over N1.2 billion in cash and assets in prime areas of Abuja in 2016.

The statement also emphasizes that under Oloyede’s leadership, JAMB has made significant contributions to the national treasury, surpassing the cumulative remittances of N55 million over 40 years. The board has directly contributed over N27 billion to the national treasury and has a cumulative surplus of approximately N54 billion over the past six years, even after accounting for reductions in application fees, capital funds, annual awards/grants to tertiary institutions for capital projects, and the special staff welfare scheme.

In a separate announcement, JAMB addressed the recent crisis during the 2023 Direct Entry registration process. The board explained that the crisis stemmed from the implementation of new processes aimed at curbing infractions in the admission process, considering Nigeria’s unique circumstances. To address loopholes and ensure transparency, JAMB will require Direct Entry candidates, including those seeking admission to Year Two in universities, to sit for the Unified Tertiary Matriculation Examination (UTME) alongside other candidates. This policy change reflects the board’s commitment to improving the education sector and promoting transparency, accountability, and good governance.