Professor Ishaq Oloyede, the Registrar of the Joint Admission and Matriculation Board, or JAMB, claims that the board does not receive funding from the federal government for overhead or capital projects.
During a meeting with the House of Representatives Committee on Basic Education and an official from the Accountant General of the Federation (AGF) on Wednesday in Abuja, Oloyede revealed this information.
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According to the Registrar, since 2017, JAMB has been remitting funds to the Federal Government’s accounts.
He declared, “We don’t collect capital or overhead. If you look at the budgets of other agencies in our category, you will see that they do collect these two things, but we don’t collect either of these. Nevertheless, we generate returns from the capital that we do collect. We fund capital projects out of our own IGR.
In addressing several concerns brought up during the meeting, the Registrar linked certain inconsistencies in the remittance to payment fees that the Accountant General’s Office neglected to document.
For instance, when we pay N10, we report N10, however the payment portal would record the net amount after deducting expenses.
“Those differences can be explained by the fact that we record the gross while they record the net. Reconciliation is therefore required,” he stated.
Earlier in her presentation, Anum Lucy, a representative of the Accountant General of the Federation, stated that N7.8 billion was the amount that JAMB began remitting annually to the Federal Government’s account in 2017.
She declared, “JAMB as an organisation began remitting revenue to the government coffers in 2017, and they remitted N7.8 billion to the government coffers in that year.”
It was N5.2 billion in 2018. It was N3.6 billion in 2019. 2020 will bring in N3.8 billion. N3.5 billion in 2021 and N3.1 billion in 2022.
