House Of Representatives Orders JAMB To Remit ₦3 Billion To Federal Government

House Of Representatives Orders JAMB To Remit ₦3 Billion To Federal Government....KINDLY READ THE FULL STORY HERE▶

The House of Representatives has instructed the Joint Admissions and Matriculation Board (JAMB) to transfer ₦3.602 billion to the Federal Government’s Consolidated Revenue Fund (CRF).

During an investigative session in Abuja, Rep. Bamidele Salam, Chairman of the Public Accounts Committee, stressed that this remittance is a clear legal requirement, not subject to individual interpretation.

He clarified that the matter at hand is unrelated to the debate over whether JAMB should remit 25 percent or 50 percent of its revenue, as has been previously contested.

The Committee reached a unanimous decision that JAMB must remit the stipulated amount to the Fiscal Responsibility Commission (FRC) and provide evidence of this within 30 days.

Naija News reports that the FRC had earlier brought JAMB before the committee concerning an unremitted operating surplus.

Bello Aliyu, representing the FRC, informed the committee that as of 2021, JAMB’s liabilities stood at ₦390.725 million based on the records submitted. However, after reviewing JAMB’s 2022 audited financial statement, the liabilities were recalculated.

“The new liability, as of 2022, is ₦3.602 billion. We notified JAMB in a letter dated March 14 and sent a reminder on August 31, but received no response,” Aliyu explained.

Mufutau Bello, JAMB’s Director of Finance and Administration, responded, attributing the discrepancy to the FRC’s decision to increase JAMB’s remittance rate from 25 percent to 50 percent.

“In 2019, due to our dedication to remitting revenue, the Federal Government reduced our registration fee from ₦5,000 to ₦3,500 for the benefit of Nigerians,” he said, adding that JAMB has consistently followed the 25 percent remittance rule, as it is part of the education sector.

“We have not increased our fees in the last eight years. In fact, we reduced them, which accounted for 30 percent of our revenue,” he added, explaining that the Office of the Accountant-General had permitted JAMB to remit 25 percent, but the FRC is now pushing for a 50 percent rate.

“If you assess us based on the 25 percent rate, we have over-remitted over the years,” Bello concluded.

Stay connected via Google News

Follow us for the latest travel updates and guides.