The Joint Admissions and Matriculation Board (JAMB) has vowed to continue its practice of remitting its operating surpluses to the government, saying the funds are used to fund universities, polytechnics, and other tertiary institutions.
“It would be recalled that the humongous remittances are the first in the history of the four-decade-old agency. The first landmark remittance was made in 2017, and the feat was repeated in subsequent years, in line with its belief that rules are made to be obeyed and, at any rate, the board does not believe it should hold onto money that does not belong to it,” JAMB said in a statement on Monday by its spokesman Fabian Benjamin.
The statement added, “In addition, it might also interest the public to know that never in the history of tertiary institutions in Nigeria have the institutions benefited from the board’s operations as they now do.”
JAMB further explained that the board would continue its practice of remitting the constitutionally-mandated proportion of its operational surpluses, in line with the extant government’s directive on the remittances.
“For instance, a huge chunk of these surpluses are ploughed back to the tertiary institutions through the National Tertiary Admissions Performance Merit Award and other platforms,” it added.
According to the exam board, it is a known fact that all unutilised funds by ministries, departments, and agencies (MDAs) should be returned to the public treasury.
JAMB also noted that the board and public-spirited Nigerians were, therefore, at a loss as to the reasons for the various campaigns of calumny mounted by some individuals who feel that these remittances should not be made.