The Joint Admissions and Matriculation Board (JAMB) has remitted N3.51 billion to the national treasury as part of its 2021 operating surplus.
Since 2016, JAMB has continued to return its operating surplus as a result of prudent management of its resources.
JAMB spokesman Dr Fabian Benjamin, in a statement on Wednesday, explained that the 2021 remittance was in line with Prof Ishaq Oloyede’s avowed commitment to prudent management of public resources.
‘This commitment to probity coupled with the adoption of international best practices made for cost-effective operational processes and attendant savings to yield those humongous remittances to government coffers,’ he said.
This has been the norm rather than the exception in the last six years beginning from 2016 when JAMB remitted N7 billion to the National Treasury and repeated same in subsequent years.’
Dr Fabian said 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 N5,000 to N3,500 in 2018 by President Muhammadu Buhari.
‘This singular act ensured the annual transfer of over N3 billion to the pockets of parents and guardians of candidates as a consequence of the slash in the price of UTME forms,’ he added.
Dr Fabian said the Board as led by Prof Ishaq Oloyede would continue to prune down the cost of governance and release resources for other needy national prioritize areas.