The House of Representatives has ordered the Joint Admissions and Matriculation Board (JAMB) to remit ₦3.602 billion to the Federal Government’s Consolidated Revenue Fund (CRF). This directive was issued following an investigative hearing in Abuja, where the Public Accounts Committee, chaired by Rep. Bamidele Salam, highlighted that the remittance is a legal obligation that must be fulfilled.
Rep. Salam clarified that this issue does not concern the ongoing debate about whether JAMB should remit 25% or 50% of its revenue. The committee made it clear that JAMB must transfer the full amount to the Fiscal Responsibility Commission (FRC) and provide proof of the transaction within 30 days.
The Fiscal Responsibility Commission had previously reported that JAMB had an unremitted surplus, initially calculated at ₦390.725 million in 2021. However, after reviewing JAMB’s 2022 financial statements, the liabilities were recalculated to ₦3.602 billion.
In response, JAMB’s Director of Finance, Mufutau Bello, explained that the discrepancy arose from the FRC’s recommendation to increase JAMB’s remittance to 50%. JAMB has been following a 25% remittance, approved by the Accountant-General, due to the board’s fee reduction from ₦5,000 to ₦3,500 in 2019, which affected its revenue. JAMB argues that, based on the 25% rate, it has over-remitted funds in recent years.
The FRC, however, maintains that JAMB should increase its remittance to 50%, a point of contention between the two bodies.