JAMB remits N3.5 billion to federal Government Consolidated Account for 2020

THE Joint Admissions and Matriculation Board (JAMB) has made an interim remittance of N3.5 billion to the Federal Government consolidated account for 2020.

This is in addition to more than N3.5 billion paid to candidates as reduction of cost of ePIN as directed by President Muhammadu Buhari.

Head of Media of JAMB, Dr. Fabian Benjamin, made this known on Sunday in a statement in Abuja.

He said this was in line with the expected remittance the JAMB Registrar, Professor Is-haq Oloyede, had made commitment to remit.
The statement read: “The Joint Admissions and Matriculation Board has made an interim remittance of N3.5 billion to the Federal Government consolidated account for the 2020 expected remittance in line with Professor Is-haq Oloyede’s commitment to remit wholly, excess funds generated from its operations to the Federal Government.

“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 candidates as directed by the president totaling over N3.5 billion with the assurance to remit more as soon as it operations are concluded and proper audit of its books done.
“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 N3 billion to candidates and guardians annually via the reduction in the cost of application documents.”