The Joint Admissions and Matriculation Board (JAMB) has made an interim remittance of N3.5bn to the Federal Government consolidated account for the 2020 expected remittance.
This is in line with the board’s avowed commitment to remit wholly, excess funds generated from its operations to the Federal Government.
According to a statement by Dr. Fabian Benjamin, Head of Media JAMB, an earlier payment was made of over N3.5bn to candidates by way of reduction of N1,500 from the cost of each ePIN sold to each candidates as graciously directed by President Muhammadu Buhari, totaling over N3.5b bringing the total remittances for the year 2020 to over N7bn with the assurance to remit more as soon as it operations are concluded and proper audit of its books done.
“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 Muhammadu Buhari of the UTME Registration fee payable by candidates from N5000 to N3500 which entails the transfer of over N3b to candidates and guardians annually via the reduction in the cost of application documents.
“Before the reduction in the cost of application EPINs, the Board had remitted over N7bn in 2017 and replicated same in subsequent years until 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 stated.