We’re supporting universities, polytechnics with remitted surplus – JAMB

The Joint Admissions and Matriculation Board says Nigerian institutions are benefitting immensely from the operating surpluses it is remitting to the government.

It has thus promised to continue remit such funds to the coffers of the government, saying never in the history of JAMB have the institutions benefited from the board’s operations as they now do.

JAMB said in a statement on Monday by its spokesman Fabian Benjamin said, “It might also interest the public to know that never in the history of tertiary institutions in Nigeria have the institutions benefited from the board’s operations as they now do.”

It added, “For instance, a huge chunk of these surpluses are ploughed back to the tertiary institutions through the National Tertiary Admissions Performance Merit Award and other platforms.”

The statement recalled that “the humongous remittances” were the first in the history of the four-decade-old agency.

“The first landmark remittance was made in 2017, and the feat was repeated in subsequent years, in line with its belief that rules are made to be obeyed and, at any rate, the board does not believe it should hold onto money that does not belong to it,” it stated.

JAMB further explained that its practice of remitting the surpluses was in line with the extant government’s directive and constitutionally mandated.

According to the exam board, it is a known fact that all unutilised funds by ministries, departments, and agencies (MDAs) should be returned to the public treasury.

JAMB noted that the board and public-spirited Nigerians were, therefore, at a loss as to the reasons for the various campaigns of calumny mounted by some individuals who feel that these remittances should not be made.