The Joint Admissions and Matriculation Board (JAMB) has vowed to continue to remit its operating surplus to the government, saying that these funds are used to fund universities, polytechnics, and other higher education institutions.
Board spokesperson, Fabian Benjamin disclosed this in a statement on Monday.
According to Benjamin, the board did not believe in retaining the surplus, so it remits it to the federal government.
“It would be recalled that the humongous remittances are 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.
“In addition, 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.
“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,” Benjamin added.
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