The Joint Committee on Finance of the National Assembly has cleared the Joint Admissions and Matriculation Board (JAMB) of allegations of financial mismanagement following a review of the board’s budgetary allocations and expenditures for the 2024 and 2025 fiscal years.
The controversy began earlier this week during JAMB’s 2025 budget defense, when committee members raised concerns over expenditures, including N1.1 billion on meals and N850 million on fumigation.
These figures drew sharp scrutiny, with accusations of wasteful spending and lack of justification.
Despite the challenges, JAMB’s Registrar, Professor Ishaq Oloyede, made a concerted effort to clarify the board’s financial practices and expenditures during the budget presentation.
However, the committee, seeking further clarity, instructed JAMB to submit detailed documents regarding its budget and spending for the 2024 and 2025 periods.
Within 48 hours, the committee issued a statement exonerating JAMB from the accusations.
The statement, signed by the committee chairman Senator Sani Musa, confirmed that the financial documents provided by JAMB demonstrated proper and responsible use of resources.
“The documents submitted by JAMB provided full context for the expenditures discussed during the budget defense session,” the statement said. “The expenditures in question align with the board’s operational needs and do not reflect any financial impropriety.”
Senator Musa also praised the leadership of Professor Oloyede, commending him for his diligent management of public funds and his commitment to transparency.
“Professor Oloyede’s prudent handling of JAMB’s finances serves as a standard for other public institutions,” the chairman noted, affirming that JAMB’s operations have remained in line with best practices in financial management.
The exoneration further strengthens JAMB’s public image as a transparent and accountable institution. Under Professor Oloyede’s leadership, JAMB has consistently improved its financial oversight and contributed significantly to national revenue, making it one of the top contributors to the Federation Account.
This clarification also underscored the importance of thorough financial reviews and transparent practices within public institutions, ensuring that government resources are used effectively and responsibly.