The National Assembly has issued a stern warning to the Joint Admissions and Matriculation Board (JAMB) regarding its financial management practices, particularly its failure to remit N4 billion to the federation account, despite receiving N6 billion in grants from the federal government in 2024. Lawmakers have called for the removal of JAMB’s funding allocation in the 2025 budget, suggesting that the board should instead rely on its generated revenues.
The issue was raised during a session in which JAMB Registrar, Prof. Ishaq Oloyede, defended the agency’s 2025 budget proposal before the National Assembly’s joint committee. Oloyede explained that while JAMB remitted N4 billion to the consolidated revenue fund, it still received a grant of N6 billion from the federal government. This prompted strong reactions from committee members, including Abiodun Faleke, Chairman of the House Committee on Finance, and Senator Adams Oshiomhole.
Faleke questioned the justification for JAMB receiving government grants, given its ability to generate funds on its own. He suggested that the N4 billion remitted could be retained, with the government halting further funding to the agency. Oshiomhole, on the other hand, criticized JAMB for spending N1.1 billion on meals and refreshments, questioning why such expenses were necessary for a government agency. He also highlighted questionable expenditures such as N850 million for security, cleaning, and fumigation, and N600 million spent on local travel. Additionally, the former Edo State governor raised concerns over the agency’s N6.5 billion allocation for local training and N1 billion for staff housing and vehicle maintenance.
Senator Musa, chairman of the committee, expressed concern over the consistently low remittances from various ministries, departments, and agencies (MDAs) to the federation account, despite generating substantial revenues. He emphasized that such financial practices undermine the government’s ability to fund essential infrastructure and public services, suggesting issues of inefficiency, mismanagement, and potential revenue leakages.
The committee reaffirmed its commitment to ensuring transparency, accountability, and efficiency in the financial operations of MDAs, and stated it would continue to scrutinize their revenue projections and adherence to remittance obligations.
