The Joint Admissions and Matriculation Board (JAMB) has remitted N7 billion from the conduct of the 2020 Unified Tertiary Matriculation Examination (UTME).
The Board said N3.5billion of the money was remitted into the Federal Government consolidated account while the balance of N3.5billion was from the earlier reduction of N1,500 from the cost of ePIN sold to candidates as directed by President Muhammadu Buhari.
A statement by JAMB’s Head of Media, Dr Fabian Benjamin, says the Board is expected to remit more funds into the federal government’s coffers as soon as all operations and necessary audits were completed.
The statement explains that the remittance is part of the commitment of the board to remit wholly, excess funds generated from its operations to the federal government.
According to the statement “From the outset, it had been the intention of the present leadership of the Board to return to federal coffers, whatever is left unutilised from its operational imperatives. The immediate benefit of the move manifested in the reduction by President Muhammadu Buhari of the UTME Registration fee payable by candidates from N5000 to N3500 which entails the transfer of over N3b to candidates and guardians annually via the reduction in the cost of application documents.
“Before the reduction in the cost of application ePINs, the Board had remitted over N7b in 2017 and replicated the same in subsequent years until the gracious action by the Buhari administration’s unprecedented decision to give back to candidates a percentage of the cost of registration.”
He adds that the Board would continue to come up with innovations on ways to ensure that candidates are provided with world-class services at modest cost as obtained anywhere in the world.