Lawmakers Express Concern Over Financial Mismanagement
The National Assembly Joint Committee on Finance has raised serious concerns over the financial practices of the Joint Admissions and Matriculation Board (JAMB). During a 2025 budget defense session on Monday, lawmakers criticized JAMB for alleged reckless spending and poor remittance to the Federal Government, threatening to recommend a zero allocation for the agency in the coming year.
JAMB’s Revenue and Allocation Under Scrutiny
Prof. Ishaq Oloyede, JAMB’s Registrar and Chief Executive Officer, explained that the agency is self-funded but acknowledged receiving a N6 billion grant from the Federal Government. He noted that JAMB remitted N4 billion to the Consolidated Revenue Fund in 2024. However, the committee questioned the logic behind the agency remitting funds while also receiving significant government allocations.
Committee Chairman, Abiodun Faleke, remarked, “You remitted N4 billion and got N6 billion from the Federal Government. Why not keep the N4 billion and stop the government from funding JAMB?” This statement underscored the lawmakers’ frustration with JAMB’s financial operations.
Calls for Detailed Financial Reports
Further complicating the issue was JAMB’s failure to submit up-to-date audited financial reports. Victor Murako, Chairman of the Fiscal Responsibility Commission (FRC), stated, “JAMB last submitted its annual financial report in 2022. If they had submitted an up-to-date report, we would have been in a better position to advise the committee.”
This lapse in compliance has intensified scrutiny, with committee members expressing doubts about JAMB’s financial transparency. Rep. Amobi Ogah emphasized the agency’s obligation to remit 40% of its Internally Generated Revenue (IGR) to the government.
Spending on Meals, Travels, and Miscellaneous Items Criticized
The committee also questioned JAMB’s high expenditures on non-essential items. Senator Adams Oshiomhole criticized the agency for spending N1.1 billion on meals and refreshments, N850 million on security and fumigation, and N600 million on local travel in 2024. He also questioned a proposed N6.5 billion allocation for local training, demanding transparency on its beneficiaries.
Oshiomhole said, “You are spending the money you generate from poor students, many of them orphans. This is unacceptable.” Other members echoed these sentiments, suggesting JAMB could function without government allocations.
Recommendations and Next Steps
The committee has instructed JAMB to provide a detailed financial report and justification for its 2025 budget. In his ruling, Senate Committee on Finance Chairman Sani Musa called for greater accountability, warning that JAMB’s funding could be cut if transparency issues persist.
This session marks another instance of the National Assembly holding government agencies accountable for their financial practices, reflecting a growing demand for fiscal discipline in public institutions.
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