Joint Admissions and Matriculation Board (JAMB) said on Sunday that it has made an interim remittance of N3.5 billion to the Federal Government consolidated account for the 2020 expected remittance.
It said it had earlier made payment of over N3.5 billion to candidates by way of reduction of N1,500 from the cost of each ePIN sold to each candidates as graciously directed by President Muhammadu Buhari, bringing the total remittances this year to over N7 billion.
The money was generated from the sale of 2020 Unified Tertiary Matriculation Examination (UTME) registration document and other services rendered by the Board.
Since 2017, JAMB has been making huge financial remittances running into billions of Naira to Federal Government contrary to practice in previous years where past Registrars of JAMB remitted paltry sum to Federal Government as revenue generated.
Its spokesman, Dr. Fabian Benjamin, in a statement on Sunday, hinted that more remittances would be made as soon as its operations are concluded and proper audit of its books done.
Benjamin said the recent action was in line with the commitment of JAMB Registrar, Prof. Ishaq Oloyede and the management to remit wholly, excess funds generated from its operations to the Federal Government.
He said: “It had been the intention of the present leadership of JAMB to return to federal coffers, whatever is left unutilised from its operational imperatives.
“The immediate benefit of the move manifested in the reduction of UTME registration fee payable by candidates from N5, 000 to N3, 500 which entails the transfer of over N3 billion to candidates and guardians annually via the reduction in the cost of application documents.
“Before the reduction in the cost of application ePINs, the Board had remitted over N7 billion in 2017 and replicated same in subsequent years until the gracious action by the Buhari administration’s unprecedented decision to give back to candidates a percentage of the cost of registration.”
He promised that JAMB will sustain the gesture by coming up with innovations on ways to ensure that candidates are provided with world-class services at modest cost as obtained anywhere in the world.