The Joint Admissions and Matriculation Board (JAMB) has said it generated N22 billion in revenue in 2024 and remitted N6 billion to the federal government’s coffers.
This was disclosed in the board’s weekly bulletin, which was reviewed by PREMIUM TIMES.
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The board noted that it expended over N18 billion in conducting the 2024 Unified Tertiary Matriculation Examinations (UTME), paying service providers and covering other essential expenses.
The board also paid N2.1 billion in staff claims in the year under review.
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JAMB added that it provided a N1,500 subsidy for UTME registration per candidate. The subsidy, according to JAMB, amounts to N3 billion.
The bulletin reads in part: “In 2024, the Board generated a total income of N22,996,653,265.25. From this amount, it expended N18,198,739,362.68 towards conducting examinations (UTME), paid service providers, and covering essential expenses, including staff claims amounting to N2,119,571,022.88.”
Remittances over the years
PREMIUM TIMES reported how the board only remitted a cumulative N50 million between 2010 and 2016.
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The report revealed that JAMB remitted N11,522,808 in 2011, N25,303,274 in 2013, and N13,926,462 in 2014.
The board did not remit funds to the government in 2010, 2012, 2015 and 2016.
However, the board’s remittance grew in 2016 after then-President Muhammadu Buhari appointed Is-haq Oloyede, a professor of Islamic Studies, as head of the board.
JAMB remitted N5 billion in the same year, setting a precedent for subsequent years: N7.8 billion in 2017, N8 billion in 2018, N5 billion in 2019 and N7 billion in 2020.
In 2021, the board remitted N3.51 billion to the government and N2 billion in 2023.
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Trial of former Registrar
A former registrar of the board, Dibu Ojerinde, a professor who served from 2007 to 2016, is still being prosecuted by anti-graft agencies for alleged financial mismanagement while heading the board.
Following a probe into the management of funds, the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) confirmed that Mr Ojerinde misappropriated over N900 million in public funds during his tenure.
He was accused of embezzling public funds and engaging in corrupt practices during his tenure as JAMB’s registrar.
However, his trial remains ongoing, with his charges involving financial misconduct and mismanagement of resources during his time in office.
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