Connect with us

Education

JAMB Faces N3.6 Billion Liability as Fiscal Responsibility Commission Demands Payment

Published

on

jamb

The Fiscal Responsibility Commission (FRC) has brought the Joint Admission and Matriculation Board (JAMB) before the House of Representatives for failing to remit N3.602 billion to the Federal Government Consolidated Revenue Fund (CRF).

According to Mr. Bello Aliyu, who represented the FRC at the House of Representatives meeting, JAMB owed N390.725 million in liabilities after the 2021 record was computed. This amount jumped to N3.602 billion following the 2022 audited financial statement.

“The new liability as of 2022 is N3.602 billion. We notified them via our letter written on March 14, and sent another reminder, which we just submitted as of August 31.

“There was no response to the letter from the board,” he said.

Rep. Bamidele Salam, the Chairman of the Public Accounts Committee, said the remittance demanded by the Fiscal Responsibility Commission (FRC) is not subject to personal interpretation.

He emphasized that it was a matter of law or regulation, and had nothing to do with the argument over the 25 percent and 50 percent remittance as claimed by JAMB.

The Committee unanimously ordered JAMB to pay the sum to the commission and provide evidence within 30 days.

Reacting to the verdict, Mr. Mufutau Bello, Director of Finance and Administration at JAMB, said the liabilities resulted from the increase imposed on the organization by the FRC.

He explained that the FRC wanted the board to remit 50 percent of its generated revenue.

“As an organization in 2019, because of our commitment to revenue remittance, the Federal Government reduced the cost of our registration from N5,000 to N3,500.”

This, according to him, was for the benefit of all Nigerians. He noted that JAMB had been remitting 25 percent annually and that they operate within the education sector.

“We have not increased any of our charges in the last eight years; rather, we reduced the fee from N5,000 to N3,500, which represents 30 percent of our revenue.”

“The Accountant-General always gives us the concession to remit 25 percent,” he said.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Continue Reading
Comments

Education

Remi Tinubu Bemoans Poor Maintenance Culture at Nigerian Varsities, Donates N1bn to OAU

Published

on

Nigeria’s First Lady, Senator Oluremi Tinubu, has bemoaned the poor maintenance culture prevalent in Nigerian institutions, urging authorities to adopt sustainable practices that will ensure the longevity of infrastructures.

She made this known on Thursday while commissioning a 2.7-kilometre road with solar street lamps at Obafemi Awolowo University (OAU), Ile-Ife, where she also donated N1 billion for infrastructure development of the institution.

Having graduated from OAU 41 years ago, Mrs. Tinubu lamented the deteriorating condition of the institution, emphasising that universities globally maintain their facilities despite being centuries old.

Expressing displeasure at the apparent neglect of some structures at OAU, Tinubu remarked, “Most institutions around the world, built over 200 years ago, still look good because of a robust maintenance culture, something that is sadly lacking in some Nigerian universities.”

During the event held at the university auditorium, the First Lady fondly recalled her time at OAU, when environmental cleanliness was a priority. She urged the institution’s management to ensure the preservation of its infrastructure.

“What I saw upon my arrival was not pleasant. In our time, we used to clean the environment ourselves. I urge the authorities to maintain existing infrastructures while continuing to develop new ones,” she said.

Mrs. Tinubu commended the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, for his efforts in supporting the university and congratulated him on his 50th birthday celebration.

She noted that many global universities thrive due to the continuous upkeep of their infrastructure, calling for a similar approach in Nigeria.

Commending the Ooni of Ife, Oba Enitan Ogunwusi, for naming the newly constructed road and pavilion situated within the university after her, Mrs Tinubu said, “Roads have always been a symbol of progress which opens up pathways to safety and economic growth. It is my hope that this road will become a valuable asset for the University and facilitate easy access for the students and the entire University community.”

The Ooni of Ife lauded Mrs. Tinubu for her advocacy in education and for upholding the values of resilience and progress, saying that the structures were named after the First Lady in recognition of her contributions to societal development.

According to the frontline monarch, “Senator Oluremi Tinubu’s advocacy for the rights and education of women and youth has left an indelible mark on the landscape of Nigerian politics and governance. Her commitment to building a better future for our young people and improving access to quality education has earned her the respect and admiration of many. She stands as a beacon of hope for the next generation, showing that through dedication and perseverance, one can achieve great things and leave a legacy of service.

“In recognition of her contributions, a golden statue is erected to immortalize her virtuous person and to showcase the strength of a teacher, a mother and wife in her at the very heart of Obafemi Awolowo University, Ile-Ife. Further more, built, is a state of the art hostel whose dynamic pavilion reflects her progressive nature.”

In his address, the Vice Chancellor of OAU, Professor Adebayo Bamire, assured Mrs. Tinubu of the institution’s commitment to academic excellence and infrastructure preservation.

Governor Ademola Adeleke of Osun State, represented by his deputy, Prince Kola Adewusi, praised the First Lady for her dedication to education and her philanthropic efforts.

He noted that his administration remains committed to supporting educational development in the state.

 

Continue Reading

Education

UK University Announces Fully Funded Scholarships for Africans, Other Countries 

Published

on

University - Investors King

The Weidenfeld-Hoffmann Scholarships and Leadership Programme has announced a fresh opportunity for graduates from developing and emerging economies to pursue fully funded graduate studies at the University of Oxford.

DAAD Scholarships said the initiative aims to prepare scholars for leadership roles through a comprehensive program that comes with financial support.

According to the organizers, the program is designed to empower talented individuals from around the world, enabling them to develop skills and knowledge essential for their futures.

The Weidenfeld-Hoffmann Scholarships and Leadership Programme provides a pathway for graduates from developing countries to gain education and leadership skills at the University of Oxford.

As the application process opens, eligible candidates are encouraged to seize the opportunity to advance their careers and contribute to society.

Launched in 2015 to honour Lord Weidenfeld’s 95th birthday, the Weidenfeld-Hoffmann Programme has expanded its impact since receiving a significant donation from André Hoffmann in 2017. It is part of the Oxford Graduate Scholarships initiative, which combines university funding with contributions from various donors.

The scholarship covers all course fees and provides a living grant of at least £19,237 annually for the duration of the program. Scholars also gain access to a leadership program that includes discussions on philosophy, training in business skills, communication development, and mentorship.

This environment fosters a supportive community for both personal and professional growth.

The Weidenfeld-Hoffmann Trust collaborates with several organizations, including the Hualan Education Group and Chevening, to offer additional awards and support to its scholars.

Eligibility

To apply for the Weidenfeld-Hoffmann Scholarships, candidates must meet specific criteria:

New Graduate Course Admission: Applicants must be applying for a full-time graduate program at Oxford, which includes MSc, MSt, MBA, and MPP programs in various fields such as law, public policy, and economics.

Eligible Countries: Candidates should be ordinarily resident in one of the listed eligible countries from regions such as Africa, Asia, Europe, the Middle East, and the Americas.

Intention to Return: Applicants must plan to return to their home country after completing their studies to contribute positively to public life.

Field of Study and Career Alignment: Candidates need to show a connection between their chosen field of study and long-term professional goals. They should also explain how their work will contribute to public life at regional or global levels.
It is important to note that applicants currently studying at Oxford are not eligible unless they are already Weidenfeld-Hoffmann scholars. Deferred offers for the 2025-26 intake are also not eligible.

How to Apply

The application process involves several steps:

1. Graduate Application Form: Interested candidates must complete the graduate application form available on the Oxford website.

2. Submission Deadline: Applications must be submitted by the relevant course deadline, which falls in December 2024 or January 2025.

3. Weidenfeld-Hoffmann Scholarships Statement: Applicants must complete and upload this statement along with their graduate application form by the deadline.

4. Nationality and Residency Details: It is crucial to accurately complete the nationality and ordinary residence section of the application, as this information determines eligibility.

Shortlisted candidates will be invited for an online interview, which typically takes place in April 2025.

Continue Reading

Education

NYSC Gives Fresh Update on ₦77,000 Monthly Allowance for Corps Members

Published

on

The Director General of the National Youth Service Corps (NYSC), Brigadier General Yushau Ahmed, has shared an update on the recent increase in corps members’ monthly allowance.

Investors King reported that the Di rector General of the NYSC through the Acting Director of Information and Public Relations of the NYSC, Caroline Embu, on September 25, announced the government’s decision to increase the corps members’ allowance.

The NYSC revealed that the monthly allowance of corps members was increased to ₦77,000 after the recent increase in the national minimum wage.

According to the NYSC, the new wage, which represents a 133.33 percent increase from the ₦33,000 previous monthly allowance is expected to take effect from July 2024.

This report left corps members with high hopes and excitement.

However, their excitement was short-lived as their September allowance failed to reflect the new amount.

In an interview monitored by this platform, Brigadier General Ahmed explained why the corps members are yet to receive the new allowance.

He said, “Not only the corps members, even our staff members’ salary has been increased about four to five months ago, but it has not been implemented yet. But we are hopeful that the new pay will be implemented soon, but the funds have not been released to us yet.

“The information we have did not specify when the new allowance will be paid, but we were assured that their monthly allowance has been increased from 29th July 2024.”

Ahmed assured corps members that the NYSC is actively engaging with the relevant authorities to ensure the speedy implementation of the new allowance.

Continue Reading
Advertisement
Advertisement




Advertisement
Advertisement
Advertisement

Trending