JAMB Defends Remittance of Operating Surplus, Gives Reasons

JAMB Defends Remittance of Operating Surplus, Gives Reasons

  • JAMB has reacted to the many backlash by indivudals over its recent remittance of surplus fund to the federal government account
  • The board said its action is in line with global best practices and obtainable in the exatnt directive of the government
  • According to JAMB, remittance of surplus fund is also for accountability and to the interest of the general public

The Joint Admissions and Matriculation Board (JAMB) on Monday, November 8, defended the remittance of its operating surplus to the federal government accounts.

The board said it will continue to remit its excesses in line with global best practices to the federal government.

JAMB Registrar
The board said the remittance of operational surplus is in line with global best practice Photo credit: Prof Is'haq O. Oloyede
Source: Facebook

Guardian reports that the board in a statement signed by its head of public affairs, Fabian Benjamin, said its action to remit proportion of its operational surplus is also line with the extant government’s directive on the remittances.

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Remitance of unused funds by MDAs to the federal government

Benjamin also said that it is a well known fact a procedure that all unused fund by ministries departments and agencies should be retired to the federal account.

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His words:

“The board reiterates that it is not within the powers of MDAs to determine the uses for which the remitted funds are put to."
“Theirs is to comply with extant directive while those given the mandate to manage the national treasury have the responsibility of appropriating and channelling such remittances.

Accountabilty is important for the interest of the public

He also said that it is in the overall interest of the public to identify areas of needs of the national economy that they perceive to be in most need of resources.

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He further urged the general public to be mindful of lightweights parading themselves as educational experts but are focused on disseminating falsehood all over the ecosystem.

Meanwhile, Legit.ng previously reported that JAMB had remiited the sum of N3.51 billion to the national treasury as part of its 2021 operational surplus.

JAMB officials said the remittance was gotten from the inclusion of international best practices and lucrative yet effective processes by the board.

The Examination board also said that it would continue to cut down the cost of governance and release resources for other needy national prioritized areas.

In other news, a former registrar of JAMB, Professor Adedibu Ojerinde, has been fined N100,000 as witness' expense by a Federal High Court sitting in Abuja.

The former JAMB registrar was directed to make the payment by Justice Obiora Egwuatu was is presiding over an alleged N5.2 billion fraud against him.

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JAMB remits N3.51b as 2021 operating surplus to National Treasury

According to the ruling of the court, the money should be paid to the prosecution as witness’ expenses on or before October 11.

Source: Legit.ng

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