The Joint Admission and Matriculation Board (JAMB) has been directed by the House of Representatives to transfer N3.602 billion to the Consolidated Revenue Fund (CRF) of the federal government within a 30-day period.
During an investigative hearing in Abuja, Rep. Bamidele Salam, the Chairman of the Public Accounts Committee, gave this instruction.
The Fiscal Responsibility Commission (FRC), which claimed that JAMB had neglected to provide its entire operating excess to the federal government, made the demand that led to the decision. Rep. Salam emphasized that JAMB must abide by the financial regulations governing government entities and underlined that the remittance is based on regulatory norms, declaring that it is not up to subjective interpretation.
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The core issue of the disagreement revolves around whether JAMB should remit 25% or 50% of its revenue. According to Bello, the FRC insists that JAMB should remit 50%, while the Accountant-General’s office allows a concession for 25%. JAMB contends that it has over-remitted based on the 25% threshold and has continued to do so annually
Mr. Mufutau Bello, JAMB’s Director of Finance and Administration, defended the board’s actions, explaining that JAMB has consistently remitted 25% of its revenue as granted by the Accountant-General’s office. He highlighted that JAMB reduced its registration fees from N5,000 to N3,500 in 2019 to ease the financial burden on Nigerians. According to Bello, the FRC now expects JAMB to remit 50% of its revenue, which he claims is a deviation from the existing arrangement.
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“If judged by the 25% benchmark, JAMB has overremitted over the years,” Bello argued, adding that the current confusion stems from the FRC’s demand for a higher remittance percentage.
Mr. Bello Aliyu, the representative of the FRC, explained that as of 2021, JAMB’s outstanding liabilities stood at N390.725 million. With the submission of JAMB’s 2022 audited financial statement, the FRC calculated a new liability of N3.602 billion. This amount, according to Aliyu, was communicated to JAMB on March 14, 2023, followed by a reminder on August 31, but no response was received.
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. The committee emphasized the need for compliance with financial regulations.
