The Joint Admissions and Matriculation on Thursday said it has remitted N2 billion as interim surplus for the 2023 operating year to the Federation Account following the conduct of the Unified Tertiary Matriculation Examination.
The examination board said more funds would be remitted as its operations for the year are completed.
The Head, Public Affairs and Protocol, JAMB, Fabian Benjamin, said this in a statement on Thursday in Abuja.
The statement said the remittance was in furtherance of the pledge by the Registrar of JAMB Prof. Is-haq Oloyede-led management on assumption of duty that it would leverage on technology and discipline to manage the affairs of the agency.
According to the statement, Oloyede has returned N55 billion to the Federal Government since he was appointed in 2016.
The statement said: “Since assuming office the Prof. Is-haq Oloyede-led management has remitted over N55 billion to the Federal Government coffers. This 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 N1.2 billion 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 N1.2 billion 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 N7.8 billion 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 (N10.8bbillion 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).
“This would aggregate the cumulative surplus to about N54 billion over the last six years.”
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