Joint Admissions and Matriculation Board (JAMB) has remitted N2 billion as its interim surplus for the 2023 operating year into the federal government’s account.
The board said the move is in furtherance of the pledge by the Prof. Is-haq Oloyede-led management, on assumption of duty, that it would leverage on technology and discipline to manage the affairs of the Board.
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This is contained in a statement signed by Dr Fabian Benjamin, the Head of Public Affairs and Protocol of JAMB, yesterday.
The statement said since assuming office the Oloyede-led management has remitted over N55 billion to the federal government coffers.
This, according to the statement, is far above the less than the N60 million remitted by the Board in the 38 years of the existence of the Board prior to the appointment of Prof. Oloyede.
“On assumption of office of the current Registrar, he had come up with a policy which holds that whatever would be done, must be on the table.
“This has changed the narratives such that JAMB now posts humongous returns to the Consolidated Revenue Fund (CRF).
“These returns were bolstered by the Board’s expanded internal capacities for its operations achieved through direct execution of its processes and procedures, which instantly resulted in, for instance, a savings of N1.2billion being paid annually to a service provider and a downward review of the N1.2 billion being annually paid to another to about N400 million with the same old service provider.
“This in addition to the recovery of over N1.2billion in both cash and estates in choice areas of Abuja, in 2016.
“It was these steps and many others, which had ensured that a Board, which had remitted cumulatively in its 40 years of existence about N55 million to the national treasury, rendered N7.8billion in the first year of the assumption of office of Prof. Oloyede and has since contributed over N27 billion directly into the national treasury.
” The remitted amount is without prejudice to the 30% reduction in its application fee (N10.8billion in 4 years since the reduction), Capital Fund (N11 billion including N6 billion, which is yet to be committed), Annual Awards/Grants to Tertiary Institutions for Capital Projects (N1 billion) and Special Staff Welfare Scheme (N2billion),” the statement added.
In another policy change, the Board approved that Direct Entry admission, which comprise those seeking to be in year two in the universities, would henceforth be required to sit the Unified Tertiary Matriculation Examination UTME along with other candidates for them to justify the possession of their A Level certificates.
“This policy is to be situated within the ambit of the Board’s relentless efforts aimed at enhancing the growth of the nation’s education sector as it would promote transparency, accountability and good governance. It also underscores the Board’s commitment and determination towards changing the negative narrative of A Level admissions into higher institutions in Nigeria,” the statement added.