House of Representatives has directed the Joint Admissions and Matriculation Board (JAMB) to remit N3.602 billion to the Federal Government Consolidated Revenue Fund (CRF).
The order was given by Rep. Bamidele Salam, Chairman of the Public Accounts Committee, during an investigative hearing in Abuja.
The Fiscal Responsibility Commission (FRC) had initially demanded this remittance, citing unremitted operating surplus.
According to the FRC, JAMB’s liabilities stood at N390.725 million as of 2021. However, after submitting their 2022 audited financial statement, the liabilities increased to N3.602 billion.
JAMB’s Director of Finance and Administration, Mufutau Bello, argued that the difference in remittance figures stems from the FRC’s desire to increase JAMB’s revenue remittance from 25% to 50%.
Bello emphasised that JAMB has consistently remitted 25% of its revenue annually and has not increased its charges in the last 8 years. In fact, JAMB reduced its registration fee from N5,000 to N3,500 in 2019.
However, the House of Representatives has given JAMB 30 days to remit the N3.602 billion and provide evidence of payment.
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