The Joint Admissions and Matriculation Board (JAMB) has made an interim remittance of N3.5 billion to the Federal Government consolidated revenue account.
A statement by Dr. Fabian Benjamin, JAMB’s Head of Media in Abuja, explained that the remittance was in line with Prof. Ishaq Oloyede’s avowed commitment to remit wholly, excess funds generated from its operations to the Federal Government.
According to JAMB, payment of over N3.5 billion had already been made to candidates by way of reduction of N1,500 from the cost of each ePIN sold to each candidate as directed by Presiden Muhammadu Buhari.
“This brings the total remittances this year to over N7 billion with the assurance to remit more as soon as its operations are concluded and proper audit of its books do.
“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 Buhari of the UTME Registration fee payable by candidates from N5000 to N3,500 which entails the transfer of over N3 billion to candidates and guardians annually via the reduction in the cost of application documents,” he said.
Benjamin added that before the reduction in the cost of application EPINs, the Board had remitted over N7 billion in 2017 and replicated the same in subsequent years.
He said that this could be attributed to the gracious action by the Buhari administration’s unprecedented decision to give back to candidates a percentage of the cost of registration.
“To sustain the gesture, the Board will continue to come up with innovations on ways to ensure that candidates are provided with world-class services at modest cost as obtained anywhere in the world,” he said.