Education
Jamb Remits N3.5Billion To The Federation Account
Joint Admissions and Matriculation Board (JAMB) has remitted the sum of N3.5billion to the Federation Account as the revenue generated from its last 2020 Unified Tertiary Matriculation Examination (UTME) exercises.
Moreover, the management said besides the N3.5billion yield from the last operation, the total amount being remitted to the federal government as a result of sales of pins this year is N7billion.
He moved further to say that the remittance of the funds we occurred as the head of the operation Prof. Is-haq Oloyede has kept to his promise of remitting excess funds generated from the organization’s operations to the federal government.
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“From the outset, it had been the intention of the present leadership of the board to return to federal coffers, whatever is left unutilized 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 N5,000 to N3,500, which entails the transfer of over N3billion to candidates and parents/guardians annually via the reduction in the cost of application documents.
“Before the reduction in the cost of application opens, the board had remitted over N7billion in 2017 and replicated the 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,” the statement added, the management said, “Over 1.9 million candidates wrote this year’s examination, making it the highest in the history of the board so far.”
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