The Joint Admissions and Matriculation Board, JAMB, said it has made an interim remittance of N3.5 billion to the federal government consolidated account for the 2020 expected remittance.
The development, according to the board, in a statement Sunday evening through its Head of Media, Dr Fabian Benjamin, was “in line with Prof. Is-haq Oloyede’s avowed commitment to remit wholly, excess funds generated from its operations to the federal government.
It promised that it would remit more as soon as its “operations are concluded and proper audit of its books done.” JAMB, in the statement, said it “had earlier made the payment of over N3.5 billion to candidates by way of reduction of N1,500 from the cost of each ePIN sold to each candidate as graciously directed by” President Muhammad Buhari.
The money, it said was “over N3.5 billion bringing the total remittances this year to over N7 billion.” “From the outset, it had been the intention of the present leadership of the Board to return to federal coffers, whatever is left unutilised from its operational imperatives.
The immediate benefit of the move manifested in the reduction by President Muhammadu Buhari of the UTME Registration fee payable by candidates from N5000 to N3500 which entails the transfer of over N3b 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 N7b in 2017 and replicated the 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.
To sustain the gesture, the Board will continue to come up with innovations on ways to ensure that candidates are provided with world-class services at modest cost as obtained anywhere in the world,” the statement read.