The Joint Admissions and Matriculation Board (JAMB) says it has recorded and remitted N3.51 billion to the national treasury as part of its 2021 operating surplus.
The board disclosed this in a statement by its spokesperson, Dr. Fabian Benjamin, in Abuja on Wednesday.
According to Benjamin, commitment to probity coupled with the adoption of international best practices make for cost-effective operational processes and attendant savings yielded those remittances to government coffers.
“It is pertinent to note that one of the direct benefits of the sustained remittances by the Prof. Oloyede-led management manifested in the reduction of the cost of the application documents (UTME and DE) by candidates from N5,000 to N3,500 in 2018 by President Muhammadu Buhari.
“This singular act has ensured the annual transfer of over N3 billion to the pockets of parents and guardians of candidates as a consequence of the slash in the price of UTME forms.
“The board, led by Prof. Oloyede will continue to prune down the cost of governance and release resources for other needy national prioritise areas,” he added.
He said this was the norm rather than the exception in the last six years beginning from 2016 when Oloyede remitted the whopping sum of N7 billion and repeated the same in subsequent years.