House of Representatives has directed the Joint Admission and Matriculation

Board to transfer N3.602 billion to the Federal Government’s Consolidated

Revenue Fund within 30 days.

This directive was issued by the Chairman of the Public Accounts Committee,

Rep. Bamidele Salam during an investigative hearing in Abuja.

The order followed a demand from the Fiscal Responsibility Commission, which

accused JAMB of failing to remit its full operating surplus to the federal

government, adding that the remittance is based on regulatory guidelines, which

is not subject to personal interpretation, and insisted that JAMB must adhere to

the financial laws regulating government agencies.

The central point of contention is whether JAMB should remit 25% or 50% of its

revenue, while, JAMB’s Director of Finance and Administration, Mufutau Bello

defended the board’s actions, explaining that JAMB has consistently remitted

25% of its revenue as granted by the Accountant-General’s office, stressing that

JAMB reduced its registration fees from N5,000 to N3,500 in 2019 to ease the

financial burden on Nigerians.

JAMB argued that, it has consistently over-remitted according to the 25%

threshold and has adhered to this practice each year, and despite JAMB’s

explanation, the Public Accounts Committee ruled that the N3.602 billion must be

remitted within 30 days, and evidence of payment should be provided.