The Joint Admission and Matriculation Board (JAMB) says it has paid an operating surplus of N6 billion to the federal government coffers after the conduct of the 2024 Unified Tertiary Matriculation Examination (UTME).
Public Communication Advisor, JAMB, Dr. Fabian Benjamin, released details of the remittances as contained in the Monday Bulletin of the Board.
The board revealed that it generated a total income of N22,996,653,265.25 and spent N18,198,739,362.68 towards conducting examinations (UTME), paying service providers, and covering essential expenses, including staff claims amounting to N2,119,571,022.88.
The year 2024, according to JAMB, represented a pivotal moment, marking a time to reap the rewards of the various innovations it had implemented.
It noted that one area where the Board has demonstrated commendable courage over the years was in enhancing accountability, transparency, and openness in its financial practices, stressing that since 2017, it has consistently provided weekly income and expenditure reports for public scrutiny.
While looking ahead to 2025, the Board reaffirmed its commitment to maintaining accountability and openness in all financial dealings after a total income of N22,996,653,265.25 was generated.
“From this amount, it expended N18,198,739,362.68 towards conducting examinations (UTME), paying service providers, and covering essential expenses, including staff claims amounting to N2,119,571,022.88.
“Upon assuming office, Professor Is-haq Oloyede’s management team prioritized financial responsibility. In line with government regulations, it remitted over N7 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 N1,500, a practice that has continued with subsequent remittances to the federal treasury.
“In 2024, the Board remitted N6,034,605,510.69 to the government. When combined with the N1,500 reduction per form for candidates, multiplied by the number of candidates that benefited in 2024, the total remittance by JAMB would amount to N9,013,068,510.69,” JAMB said.
