The Joint Admissions and Matriculation Board (JAMB) plans to construct a new headquarters in the Central Area of the Federal Capital Territory, Abuja, for the amount of N6bn.
The House of Representatives Committee on Public Accounts disclosed this in Abuja at an investigative hearing on Thursday.
The hearing was on audit queries delivered by the Office of the Auditor General of the Federation against ministries, departments and Federal Government Agencies.
Mufutau Bello, The Director, Finance and Administration, JAMB, showed up before the committee, stated that the board has been saving N2bn yearly since 2018 to raise the money and begin the project.
The head office of Joint Admissions and Matriculation Board (JAMB) is currently situated in the Bwari, headquarters of the Bwari Area Council.
Bello declared that JAMB had realised N5.5bn so far, complaining that the COVID-19 pandemic affected the internally generated board revenue in 2020.
He stated, “We are proposing to move our central headquarters to the Central Area (of Abuja). We have a plan of over N6bn but since we don’t collect subvention from the government for our overhead and capital (costs), every year, from 2018, we have been setting aside N2bn because our target is N6bn to be able to acquire our headquarters in the Central Area.
“The money is in our TSA (Treasure Single Account). We had a challenge in 2020 because of COVID; so, we could not realise our budget. So far, we have realised about 5.5bn.”
Oluwole Oke, The Chairman of the committee, on the other hand, criticized the decision to keep the money unproductive in the account.
He said, “You cannot keep such money idling in an account. That is poor treasury management.”
The Joint Admissions and Matriculations Board (JAMB) is a Nigerian entrance examination board for tertiary-level institutions. The board conducts entrance Unified Tertiary Matriculation Examination for prospective undergraduates into Nigerian universities.
JAMB is also charged with the responsibility to administer similar examinations for applicants to Nigerian public and private monotechnics, polytechnics, and colleges of educations.
All of these candidates must have obtained the West African Examinations Council, WAEC, or its equivalent, National Examination Council (Nigeria), NECO.
Professor Is-haq Olarewaju Oloyede is the current Registrar and Chief Executive of Joint Admissions and Matriculation Board (JAMB).