The decision to form the committee comes in light of the non-reconciliation found in the books of the examination body and the Office of the Accountant General of the Federation.
Appearing before the House Committee on Basic Education and Examination Bodies, JAMB Registrar, Prof Ishaq Oloyede, revealed that the examination body began remitting revenue to the Consolidated Revenue Fund less than a year after he assumed office.
He informed the committee that in 2017, JAMB remitted N7.8bn, followed by N5.2bn, N3.68bn, N3.82bn, N3.5bn, and N3.1bn in 2018, 2019, 2020, 2021, and 2022, respectively.
Oloyede further shared that, under his leadership, JAMB generated internal revenue of N13.33bn, N11.35bn, N9.74bn, and N12.62bn in 2019, 2020, 2021, and 2022, respectively.
However, a discrepancy of N11m was identified with the submission of Mrs Lucy Anom from the Office of the Accountant General of the Federation. This led Chairman Afoji Obuku to call for a sub-committee to investigate the alleged differences and report back to the Committee on Basic Education.
Meanwhile, JAMB expressed opposition to the Federal Government's automated deduction of funds from the registration fees paid by candidates for the Unified Tertiary Matriculation Examination (UTME).
Oloyede stated that this practice significantly reduces the board's revenue contribution to the Consolidated Revenue Fund (CRF). He said, "We generate our own funds, but this auto-deduction is affecting our revenue for capital projects."
Committee member Oyedeji Oyeshina noted the reduction in JAMB's revenue generation and remittances to the CRF since 2019.
Oloyede explained that the reduction was due to a decrease in examination fees for UTME candidates in 2019, from N5,000 to N3500. He further clarified that automated deductions began after the reduction was approved and implemented by the board.
