The House of Representatives has directed the Joint Admission and Matriculation Board (JAMB) to transfer ₦3.602 billion to the Federal Government Consolidated Revenue Fund (CRF).
During an investigative hearing in Abuja, Rep. Bamidele Salam, Chairman of the Public Accounts Committee, emphasized that this remittance is a straightforward legal obligation, not open to personal interpretation.
He clarified that the issue does not pertain to the debate over the 25 per cent versus 50 per cent as contended by JAMB.
The Committee reached a consensus that JAMB must remit the specified amount to the Fiscal Responsibility Commission (FRC) and provide proof of this transaction within a 30-day timeframe. 
Naija News understands that the FRC had previously brought JAMB before the committee regarding an unremitted operating surplus.
Representing the FRC, Bello Aliyu indicated that as of 2021, the liabilities amounted to ₦390.725 million, based on the records submitted to the Committee.
He further stated that following JAMB’s 2022 audited financial statement submission, the liabilities were recalculated and communicated to them.
He added: “The new liability as of 2022 is ₦3.602 billion. We have notified them via our letter written on March 14, and another reminder, which we just submitted as of August 31.
“There was no response to the letter from the board.”
The Director of Finance and Administration at JAMB, Mufutau Bello, responded to the allegation by stating that the discrepancy in the remittance figures arose from the FRC’s intention to adjust the board’s revenue to 50 per cent.
“As an organisation in 2019, because of our commitment to revenue remittance, the Federal Government reduced the cost of our registration from N5,000 to ₦3,500,” he said.
This, according to him, was for the benefit of all Nigerians, “as we have been following with passion a remittance of 25 per cent every year, and we are in the education sector.
“We have not increased any of our charges in the last 8 years; rather, we reduced the fee from ₦5000 to ₦3500, which is 30 per cent of our revenue.
“The Accountant-General always gives us the concession to operate 25 per cent of remittances.”
He said that the FRC believed that the board should move to 50 per cent, as against the 25 per cent concession given by the Office of the Accountant-General, which is the area of difference.
“If you judge us on 25 per cent, we have over-remitted over the years, and that’s what we have been doing,” he said.
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