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.