The National Assembly stated that the Joint Admissions and Matriculation Board (JAMB) might not receive budgetary allocation in 2025 because of their reckless spending and questionable remittances to the Federal Government. Lawmakers assert that JAMB’s current financial practices do not justify continued government funding, particularly since it generates significant revenue independently.
During a budget defence session on Monday, Prof. Ishaq Oloyede, JAMB's Registrar and Chief Executive Officer, faced intense scrutiny over the agency’s 2024 budget performance. He described JAMB as a self-funded institution with operational independence, though he acknowledged receiving a N6 billion grant from the Federal Government while remitting only N4 billion to the Consolidated Revenue Fund. This discrepancy sparked sharp criticism from members of the National Assembly Joint Committee on Finance. Abiodun Faleke, Chairman of the House Committee on Finance, questioned why JAMB should remit N4 billion yet still rely on a larger government grant, suggesting that the agency should instead retain its earnings to eliminate dependence on public funds.
Further aggravating the lawmakers' discontent was JAMB’s failure to present an up-to-date audited financial report. Victor Murako, Chairman of the Fiscal Responsibility Commission, confirmed that the agency’s last financial submission was in 2022, a lapse that hampered proper fiscal oversight. He emphasized that if JAMB had adhered to its reporting obligations, the commission could have provided more precise guidance to the committee.
Representative Amobi Ogah pointed out that JAMB, as a partially-funded government agency, is obligated to remit 40 percent of its internally generated revenue. He noted that the figures presented by Prof. Oloyede indicated a net liability of approximately N3.6 billion, raising doubts about the agency’s financial integrity. Ogah also highlighted unexplained revenue sources listed as “miscellaneous,” asking for clarification on what constituted over N1.1 billion in additional income beyond JAMB’s primary revenue stream.
Senator Adams Oshiomhole lambasted JAMB’s extravagant expenditure on non-essential items. He cited the N1.1 billion spent on meals and refreshments in 2024, calling it an egregious misuse of funds derived from examination fees paid by students, many of whom face economic hardship. Oshiomhole further criticized JAMB’s expenditure on security, cleaning, and fumigation, which amounted to N850 million, and questioned the N600 million allocated for local travel. He expressed skepticism about the N6.5 billion spent on local training, demanding transparency regarding the beneficiaries and the nature of the training. Additionally, he noted the inconsistency of spending N120 million on office equipment despite similar procurements in previous years.
Mark Esset, representing Uyo/Urua Nsit/Atai Astan Federal Constituency, argued that JAMB’s ability to allocate N1.1 billion for food proves it can sustain itself without government grants. Similarly, Billy Osawaru of Edo State dismissed Prof. Oloyede’s explanations as evasive, urging the committee to disregard any appeals until full financial documentation is provided.
In a closing directive, Sani Musa, Chairman of the Senate Committee on Finance, instructed JAMB to prepare a comprehensive financial report before its next budget defence. The lawmakers' unanimous stance signals that unless significant reforms are undertaken, JAMB risks losing government funding entirely, a decision that could redefine its financial operations moving forward.
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