The Joint Admissions and Matriculation Board (JAMB) has stated that it remitted the sum of N2bn as its interim surplus for the 2023 operating year to the Federal Government.
The board that said more would be remitted as its operations for the year are completed, made this known by its spokesman, Dr Fabian Benjamin, stressing that the remittance was in furtherance of the pledge by the Registrar, Prof. Is-haq Oloyede-led management, on an assumption of duty, that it would leverage technology and discipline to manage the affairs of the Board.
Since assuming office, the Oloyede-led management was said to had remitted over N55bn to the Federal Government coffers.
“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.