The Joint Admissions and Matriculation Board (JAMB) has remitted the sum of N3.51bn to the national treasury as part of its 2021 operating surplus.
The 2021 remittance, according to JAMB spokesperson, Fabian Benjamin, was in line with Prof. Is-haq Oloyede’s avowed commitment to prudent management of public resources.
He said the commitment to probity coupled with the adoption of international best practices make for cost-effective operational processes and attendant savings to yield those humongous remittances to government coffers.
Fabian said, “This has been the norm rather than the exception in the last six years beginning from 2016 when he remitted a whopping sum of N7bn and repeated same in subsequent years.
“It is pertinent to note that one of the direct benefits of the sustained remittances by the Prof. Oloyede-led management manifested in the reduction of the cost of the application documents (UTME and DE) by candidates from N5000 to N3500 in 2018 by President Muhammadu Buhari.
“This singular act has ensured the annual transfer of over N3b to the pockets of parents and guardians of candidates as a consequence of the slash in the price of UTME forms.
“The Board as led by Prof Is- haq Oloyede would continue to prune down the cost of governance and release resources for other needy national prioritize areas,” he added.
Last year, the Board made an interim remittance of N3.5billion to the federation account from the excess generated from its operations during the conduct of the Unified Tertiary Matriculation Examination (UTME).