The Joint Admissions and Matriculation Board (JAMB) has made an interim remittion of N3.5bn to the federal government.
This was contained in a statement by JAMB Media Head, Dr. Fabian Benjamin in Abuja, saying that the remittance is line with Prof. Oloyede’s aim of remitting excess funds generated by the body to the federal government.
JAMB said a payment of over N3.5 bn has been made to candidates by way of reduction of N1,500 from the cost of each ePIN sold to each candidate as directed by President Buhari.
“This brings the total remittances this year to over N7 billion with the assurance to remit more as soon as its operations are concluded and proper audit of its books done.
“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 Buhari of the UTME Registration fee payable by candidates from N5000 to N3,500 which entails the transfer of over N3 billion to candidates and guardians annually via the reduction in the cost of application documents,” he said.
Dr. Benjamin noted that since 2017, N7bn was being remitted to the government, but since the price of e-pins were reduced to N1,500, N3.5bn was remitted.