Nationwide Meeting Joint Committee on Finance, on Monday, accused the management of the Joint Admissions and Matriculation Board of reckless spending and broke remittance to the Federal Govt, threatening that the examination frame might get 0 allocation for 2025.
The lawmakers expressed the worries when the Registrar and Eminent Govt Officer of the company, Prof Ishaq Oloyede, seemed prior to them for the 2025 funds defence.
The lawmakers, on Monday, grilled heads of government-owned enterprises on their 2024 funds efficiency, relating to profit generated, remitted and spent.
Status at the podium to garden questions from the committee, Oloyede described JAMB as a revenue-generating company of presidency, pronouncing, “We are self-funded in terms of our operation,” however used to be fast so as to add that the Federal Govt offers serve allocation to the exam frame.
Giving a breakdown of the efficiency of the JAMB’s 2024 funds, Oloyede mentioned the company remitted N4bn to the Consolidated Earnings Capitaltreasury presen it were given a serve of N6bn from the Federal Govt.
This didn’t travel i’m sick smartly with the committee because the Chairman, Area Committee on Finance, Abiodun Faleke, puzzled the explanation for making remittances to authorities coffers presen concurrently receiving allocations from the federal government.
“You remitted N4bn and got N6bn from the Federal Government. Why not keep the N4bn and stop the government from funding JAMB?” Faleke requested.
A frightened Oloyede battled unsuccessfully to justify every year budgetary allocation to JAMB, a building that pressured Faleke to inquire from the Fiscal Duty Fee in regards to the condition of the exam frame.
Clarifying the talk, FRC Chairman, Victor Murako, mentioned JAMB’s incapability to manufacture an in depth document of its monetary presentation used to be partially knowledgeable by means of its failure to post an new audited monetary report back to the fee.
He mentioned, “JAMB last submitted its annual financial report in 2022. If they had submitted an up-to-date financial report, we would have been in a better position to advise the committee.”
A member of the committee, Amobi Ogah, famous that JAMB as a partially-funded company should remit 40 in step with cent of its general Internally Generated Earnings once a year to the federal government.
Ogah, who represents Isuikwuato/Umunneochi Federal Constituency, Abia Shape, famous that with the presentation made by means of Prof Oloyede, JAMB had a web legal responsibility of about N3.6bn.
“There is no basis to spend what you generate. In your submission, under miscellaneous sources, you projected revenue generation of over N1.1bn more than your main source of revenue. Can you tell us what constitutes these miscellaneous sources?” Ogah requested.
Additionally talking, Senator Adams Oshiomhole flayed the company for the plethora quantity it spent on foods and refreshments in 2024.
“You spent N1.1bn on foods and refreshments. Are you being freely fed by means of the federal government? What this implies is that you’re spending the cash you generate from broke scholars, a lot of them orphans.
“You additionally spent N850m on safety, cleansing and fumigation in 2024. What did you fumigate? Is it mosquitoes that took all this cash? “ Oshiomhole requested
The previous Edo Shape Governor additionally slammed JAMB for spending N600m on native travels whilst he referred to as on Oloyede to justify the N6.5bn on native coaching.
“Every other N6.5bn for coaching with out main points of the ones coaching. Out of your data, JAMB intends to spend N1bn on housing. Is the Federal Govt nonetheless offering housing? What came about to (Olusegun) Obasanjo’s monetisation coverage?
“There is N120m for office equipment. What happened to the ones you procured last year,” Oshiomhole additional requested.
In his contribution, a member representing Uyo/Urua Nsit/Atai Astan Federal Constituency, Akwa Ibom Shape, Mark Esset, referred to as at the committee to counsel to the Federal Govt to oppose allocation to JAMB.
“If JAMB can spend N1.1bn on food alone, there is no need for the Federal Government to give them grants. They can be self-funding,” he mentioned.
On his section, Edo lawmaker and member of the All Progressives Congress, Billy Osawaru, suggested the committee to not entertain any plea from Prof Oloyede, pronouncing, “This is someone who is trying to bamboozle the committee. How can he come for budget defence without the complete documents.”
In his ruling, the Chairman, Senate Committee on Finance, Sani Musa, suggested Oloyede to arrange an in depth document of the monetary condition of JAMB forward of his look to preserve the company’s 2025 funds.