The Joint Admissions and Matriculation Board (JAMB) announced on Monday that it has remitted over ₦6 billion to the federal government as part of its operating surplus for the 2024 Unified Tertiary Matriculation Examination (UTME).
According to the Board, under the leadership of its Registrar/Chief Executive, Prof. Is-haq Oloyede, JAMB has contributed over ₦50 billion to the national treasury as an operating surplus in the past seven years.
The financial details were disclosed in JAMB’s Monday Bulletin, shared by its Public Communication Advisor, Dr. Fabian Benjamin.
The report revealed that in 2024, JAMB generated ₦22,996,653,265.25 and spent ₦18,198,739,362.68 on conducting examinations, paying service providers, and covering essential expenses, including staff claims of ₦2,119,571,022.88.
Highlighting the significance of 2024, the Board described it as a pivotal year, reaping the rewards of its reforms and innovations.
JAMB emphasized its commitment to transparency, noting that since 2017, it has published weekly income and expenditure reports for public scrutiny.
The Board stated: “As we reflect on 2024, it is essential to uphold our commitment to transparency by sharing our financial performance for the year. In 2024, the Board generated a total income of ₦22,996,653,265.25.
“From this amount, It expended ₦18,198,739,362.68 towards conducting examinations (UTME), paid service providers, and covering essential expenses, including staff claims amounting to ₦2,119,571,022.88.
“Upon assuming office, Professor Is-haq Oloyede’s management team prioritized financial responsibility. In line with government regulations, it remitted over ₦7 billion from its operational surplus during the first year.
“Additionally, management initiated a programme to give back to candidates by reducing the cost of its application documents by ₦1,500, a practice that has continued with subsequent remittances to the federal treasury.
“In 2024, the Board remitted ₦6,034,605,510.69 to the government. When combined with the ₦1,500 reduction per form for candidates multiplied by the number of candidates that benefited in 2024, the total remittance by JAMB would amount to ₦9,013,068,510.69.
“Looking ahead to 2025, the Board remains committed to maintaining accountability, transparency, and openness in all financial dealings. The Board will also continue to ensure equity and fairness for all candidates in the admission process, which remains its core mandate.”