Professor Ishaq Oloyede, the Registrar of the Joint Admission and Matriculation Board (JAMB), affirmed during an interactive session with the House of Representatives Committee on Basic Education that JAMB does not receive allocations for capital projects and overhead from the national budget. He clarified that unlike other agencies in a similar category, JAMB doesn’t collect capital and overhead, relying solely on internally generated revenue (IGR) for its capital projects.
Since 2017, JAMB has been remitting funds to the Federal Government, contributing to the national coffers. Professor Oloyede addressed discrepancies in remittance figures, attributing them to payment charges that the Accountant General’s Office did not accurately record. He explained that while JAMB reports the gross amount, the portal deducts charges and records the net, leading to discrepancies that require reconciliation.
Anum Lucy, the representative of the Accountant General of the Federation, provided details about JAMB’s yearly remittances from 2017 onwards. The figures presented were as follows:
- 2017: N7.8 billion
- 2018: N5.2 billion
- 2019: N3.6 billion
- 2020: N3.8 billion
- 2021: N3.5 billion
- 2022: N3.1 billion
This clarification emphasizes the reliance of JAMB on its internally generated revenue for funding and underscores the importance of accurate financial reporting for transparent accountability.
