JAMB Makes Surplus Money, Returns N6b To FG’s Account From 2024 UTME

lahor global magazine1 year ago1 year ago304 mins

Joint Admission and Matriculation Board (JAMB) has boosted of remitting a staggering sum of N6 billion to the Federal Government’s account as part of its surplus after the conduct of the 2024 Unified Tertiary Matriculation Examination (UTME).

In a bulletin presented by Public Communication Advisor, Dr. Fabian Benjamin, to correspondents in Abuja, JAMB disclosed that it has contributed over N50 billion as an operating surplus to the national treasury over the past seven years.

JAMB said 2024 represented a pivotal moment, marking a time to reap the rewards of the various innovations the Board has implemented under the watch of Professor Is-haq Oloyede as Registrar and Chief Executive Officer.

The Board said one area where it has demonstrated commendable courage over the years is in enhancing accountability, transparency, and openness in its financial practices.

It added that since 2017, it has consistently provided weekly income and expenditure reports for public scrutiny.

The Board reiterated its commitment to maintaining accountability, transparency, and openness in all financial dealings just as it said it is looking ahead of 2025.

It highlighted various reforms instituted by the management of the Joint Admissions and Matriculation Board under the leadership of Prof. Is-haq Oloyede over the years culminating in significant achievements and recognition in 2024.

It recalled that at a roundtable organised by the Economic and Financial Crimes Commission (EFCC) in January 2024, President Bola Tinubu, represented by Vice President Kashim Shettima, commended the Board and specifically highlighted Prof. Oloyede’s exemplary character, purposeful leadership, and prudent management of resources.

“As we reflect on 2024, it is essential to uphold our commitment to transparency by sharing our financial performance for the year. In 2024, the Board generated a total income of N22,996,653,265.25.

“From this amount, It expended N18,198,739,362.68 towards conducting examinations (UTME), paid service providers, and covering essential expenses, including staff claims amounting to N2,119,571,022.88.

“Upon assuming office, Professor Is-haq Oloyede’s management team prioritized financial responsibility. In line with government regulations, it remitted over N7 billion from its operational surplus during the first year.

“Additionally, management initiated a programme to give back to candidates by reducing the cost of its application documents by N1,500, a practice that has continued with subsequent remittances to the federal treasury.

“In 2024, the Board remitted N6,034,605,510.69 to the government. When combined with the N1,500 reduction per form for candidates multiplied by the number of candidates that benefited in 2024, the total remittance by JAMB would amount to N9,013,068,510.69.

“Looking ahead to 2025, the Board remains committed to maintaining accountability, transparency, and openness in all financial dealings. The Board will also continue to ensure equity and fairness for all candidates in the admission process, which remains its core mandate.”