The Joint Admissions and Matriculation (JAMB) on Monday said it has remitted N2billion as its interim surplus for the 2023 operating year, and more would be remitted as its operations for the year are completed.
The remittance, the board said, is in furtherance of the pledge by the Is-haq Oloyede-led management, on assumption of duty, that it would leverage on technology and discipline to manage the affairs of the board.
Since assuming office Oloyede has remitted over N55billion to the Federal Government coffers, the board said in a statement by its spokesperson, Fabian Benjamin
“This is far above the less than the N60million remitted by the board in the 38 years of the existence of the board prior to the appointment of 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)”, the board stated.
Read also: NGX says to collaborate with FG on listings, market participation
JAMB explained that the 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 N1.2billion being annually paid to another to about N400million 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 N27billion directly into the national treasury,”the statement read.
“The remitted amount is without prejudice to the 30 percent reduction in its application fee (N10.8billion in 4 years since the reduction), Capital Fund (N11billion including N6billion, which is yet to be committed), Annual Awards/Grants to Tertiary Institutions for Capital Projects (N1billion) and Special Staff Welfare Scheme (N2billion). This would aggregate the cumulative surplus to about N54billion over the last six years.”
In another development, the board in a statement issued at the end of its management committee meeting held to appraise the recent crisis witnessed in the conduct of the 2023 Direct Entry registration, stated that the seeming crisis was birthed by the implementation of some of its newly-adopted processes aimed at curbing infractions in the admission value chain given our national peculiarities.
Another major policy change also to be implemented by the Board to holistically address all loopholes giving rise to abuses in the Direct Entry admission processes is that all DE candidates, 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, the board explained, 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 further read.
