The joint Admissions and Matriculation Board (JAMB) made an interim remittance of 3.5 million Naira to the Federal government’s account after the conduct of its 2020 Unified Tertiary Matriculation Examination (UTME).
A statement by Dr. Fabian Benjamin, JAMB’s Head of Media in Abuja, explained that the remittance was in line with Prof. Ishaq Oloyede’s commitment to remit wholly, excess funds generated from its operations to the Federal Government.
The board earlier said that it paid 3.5 billion Naira to candidates by reducing 1,500 Naira from the cost of e -PINs sold to each candidate as directed by President Muhammadu Buhari. It said this brings its total remittances this year to over 7 billion Naira.
Also stating that it will remit more as soon as its operations are concluded and proper audit of its books is completed in statement signed by its spokesperson, Fabian Benjamin, on Sunday Night.
“The immediate benefit of the move manifested in the reduction by President Muhammadu Buhari of the UTME Registration fee payable by candidates from N5000 to N3500 which entails the transfer of over N3b to candidates and guardians annually via the reduction in the cost of application documents,” he said.
Benjamin added that before the reduction in the cost of application e-PINs, the Board had remitted over 7 billion Naira in 2017 and replicated same in subsequent years
JAMB has been remitting consistently to the federal purse since the appointment of Ishaq Oloyede as registrar in August 2016.
Before his appointment, the agency never returned up to one per cent of 7 billion Naira in any year.
The total amount JAMB remitted to the federal government coffers between 2010 and 2016 was N50,752,544.
In 2019, JAMB remitted 5 billion Naira to the federal government’s purse after the conduct of its 2019 Unified Tertiary Matriculation Examination (UTME).