The Joint Admissions and Matriculation Board (JAMB) has announced an interim remittance of ₦3.5 billion to the Federal Government's Consolidated Revenue Fund (CRF) account.
Breakdown of the N7 Billion Total Value Returned in 2020
In an official statement released in Abuja by JAMB's Head of Media, Dr. Fabian Benjamin, the Board explained that the remittance aligns with Registrar Prof. Ishaq Oloyede's commitment to return all excess operational funds to the public treasury.
- Direct Remittance to FG Account: ₦3.5 billion interim payment.
- Direct Savings to Candidates (e-PIN Reduction): Over ₦3.5 billion was already returned directly to 2020 UTME/DE candidates and parents through the ₦1,500 reduction in the cost of each application e-PIN (slashed from ₦5,000 to ₦3,500) as directed by President Muhammadu Buhari.
- Combined Total for 2020: Over ₦7 billion.
Dr. Benjamin added that JAMB will remit additional funds as soon as its 2020 examination operations are concluded and a full audit of its financial books is completed.
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