The Joint Admissions and Matriculation Board (JAMB) announced on Thursday that it had remitted N2 billion to the federal government as a reserve surplus for the 2023 operational year, with more to come upon the completion of the same operational year.
The spokesperson for JAMB, Dr Fabian Benjamin said in a statement that the remittance recognizes the fulfilment of the obligation made by the Board, led by Prof. Is-haq Oloyede on an assumption of duty, that it would leverage technology and discipline to manage the affairs of the Board.
The management team led by Prof. Oloyede has transferred more than N55 billion to the Federal Government coffers since he assumed office.
“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.
“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 N1.2bn being paid annually to a service provider and a downward review of the N1.2bn being annually paid to another to about N400m with the same old service provider. This is in addition to the recovery of over N1.2bn in both cash and estates in choice areas of Abuja, in 2016.
“It was these steps and many others, which had ensured that a Board, which had remitted cumulatively in its 40 years of existence about N55m to the national treasury, rendered N7.8bn in the first year of the assumption of office of Prof. Oloyede, and has since contributed over N27bn directly to the national treasury,” the statement said.
cc: Punch Ng
