JAMB Remits N2 Billion To Federal Government

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JAMB Remits N2 Billion To Federal Government. Read details to the end …

The Joint Admissions and Matriculation Board (JAMB) has again remitted N2 billion naira as its interim surplus for the 2023 operating year, more would be remitted as its operations for the years are completed, the board said it in a statement issued on Thursday May 18, 2023.

According to the statement signed by the spokesperson, Dr Fabian Benjamin, on behalf of the board noted that the remittance was the furtherance of the pledge by Prof. Is-haq Oloyede-led management, on the assumption of duty, that it would leverage technology and discipline to manage the affairs of the Board.

The statement further reads that,

”Sinnce assuming office Prof. 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 its existence 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.

” It also reflects 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,” he said.

“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 remitted amount is without prejudice to the 30% 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 N54 billion over the last six years.”

Source: The online version of  The Punch Newspaper and The Nation Newspaper


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