The Registrar of the Joint Admission Matriculation Board (JAMB), Prof Ishaq Oloyede has remitted a sum of N50 billion to the Federal Government treasury in the last six years.
The board also expended N500m as Corporate Social Responsibility (CSR) in support of Nigerian universities to increase their capacity to give admission to applicants every year in the last five years.
According to the Jamb Registrar, the N50 billion was what was left after recording expenses incurred in conducting the examination, adding that the remittance was due to measures put in place on, “cost control, prevention of financial leakages and minimisation of financial corruption.”
Oloyede who disclosed this in Abeokuta, Ogun State, at a public lecture titled, “The Imperatives of JAMB in Tertiary Education in Nigeria”, as part of activities to mark this year’s Gbagura Day, added that JAMB has increased its CSR to N750 Million this year.
Investors King could recall that before Prof Isiaq Oloyede, who was a former Vice Chancellor of the University of Ilorin was appointed Jamb Registrar, the examination body was always in debt with banks despite drawing allocations from the Federal Government and making revenue from selling forms and result checking cards for Jamb candidates.
While giving a breakdown of the analysis, Oloyede said, “Currently, over N50 billion has been recorded as surplus in the past five years. Over N29 billion of this has been returned directly to the CRF. About N11 billion disbursed on capital projects, Corporate Social Responsibility, savings (about N6 billion) and others in contrast to about N52 million that had been the cumulative return of the previous 40 years.”
In addition, the Jamb registrar opposed the call for Jamb to extend the validity of Jamb to more than one year, noting that each year examination comes with different difficulties to identify the best candidates. He added that such a move will also compound the issue of backlogs.
“In recent times, some people have agitated for the retention of the results of the UTME for more than a year. But let us be clear on this. The validity of a purposeful examination as the UTME cannot be extended beyond the purpose for which it has been administered, thus the score of such an examination cannot be banked for future use as done with Certification Test,” he noted.
