The National Assembly Joint Committee on Finance has raised concerns over what it described as reckless spending and inadequate remittances by the Joint Admissions and Matriculation Board (JAMB). Lawmakers warned that the examination body might receive zero allocation for 2025 if financial practices are not improved.
During a 2025 budget defense session, JAMB’s Registrar, Prof. Ishaq Oloyede, highlighted that the agency operates as a revenue-generating entity but still receives government grants. Despite remitting N4 billion to the Consolidated Revenue Fund in 2024, JAMB received a N6 billion federal grant, prompting criticism from committee members.
Chairman of the House Committee on Finance, Abiodun Faleke, questioned the logic of simultaneous remittance and allocation. “Why not retain the N4 billion and cease government funding?” Faleke queried.
Further scrutiny revealed that JAMB had not submitted an updated audited financial report since 2022, according to Victor Murako, Chairman of the Fiscal Responsibility Commission. Committee members also criticized excessive expenditures, including N1.1 billion on meals, N850 million on security and fumigation, and N600 million on local travels.
Senator Adams Oshiomhole condemned the spending, stating, “You are using funds from struggling students to finance exorbitant expenses.”
In response, lawmakers suggested that JAMB could function without government grants, urging a review of the agency’s funding practices. Chairman Sani Musa called for a comprehensive financial report ahead of JAMB’s next budget defense session.
Discover more from LN247
Subscribe to get the latest posts sent to your email.
