In an appearance before the House of Representatives Committee on Basic Education and Examination Bodies on Wednesday, the Registrar of the Joint Admissions and Matriculations Board (JAMB), Prof. Ishaq Oloyede, revealed that the Federal Government’s automated deduction of revenue from registration fees for the Unified Tertiary Institutions Matriculations Examination (UTME) has significantly diminished the agency’s contribution to the Consolidated Revenue Fund (CRF).
Prof. Oloyede disclosed the impact of this automated revenue deduction system on the board’s finances, expressing concerns about the resulting reduction in its revenue contribution to the government. This revelation unfolded during the committee’s session, shedding light on the financial challenges faced by JAMB in meeting its obligations to the CRF.
The Chairman and members of the House Committee on Basic Education and Examination Bodies, led by Hon. Oboku Ofoji, seized the opportunity to call upon JAMB and other agencies under the committee’s jurisdiction to enhance their revenue generation efforts and expedite remittances to the government’s account.
During the committee session, Hon. Oyedeji Oyeshina, representing Oyo under the PDP, drew attention to the downward trend in the agency’s revenue generation and remittances to the consolidated revenue fund since 2019. This observation underscored the need for a thorough examination of the financial dynamics affecting JAMB’s contributions to the government’s coffers.
Assuring effective oversight of the examination body and other agencies, the committee had previously requested vital financial documents from JAMB. These documents include the annual audited accounts, procurement plans, schedules of Internally Generated Revenue (IGR), and evidence of remittances.
The committee’s proactive approach signals a commitment to ensuring financial accountability and transparency within examination bodies and affiliated agencies. As the nation grapples with economic challenges, the imperative to bolster revenue and remittances becomes a central concern for entities like JAMB, playing a pivotal role in the education sector. The House Committee on Basic Education and Examination Bodies remains vigilant in its oversight role to address these financial complexities and uphold the integrity of government revenue systems.