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Investigation  has revealed that the Economic and Financial Crimes Commission ( EFCC) has commenced full investigations into the financial flow of the Joint Admission and Matriculation Board (JAMB) to unearth alleged billions of naira
fraud .
The EFCC investigations followed the declaration of over N5 billion by the registrar of JAMB, Prof. Ishaq Oloyede, as revenue generated by the admission board for the 2017 financial year as against a paltry N5 million declared by previous registrars of the organization.
Following the declaration, the Federal Executive Council, (FEC), in September 2017 ordered a probe into the administration of the past heads of JAMB over the poor revenue remittance in the past.
It was  gathered that Unity Banks, one of the series of banks, which transacted businesses with JAMB during Ojerinde’s tenure has been invited to make statements on their financial dealings with the admission board.
“I can tell you that an investigation into the fraud in JAMB has commenced. So many people have been invited to make statements and all the financial insstitutions that handled the accounts within the period under review have been invited to also make statements and provide bank sgtatements and financial flow involving JAMB within the period under review,” a source close to the EFCC told our correspondent, on the condition of anonymity.
Investigations also revealed that immediate past JAMB boss Professor Dibu Ojerinde has severally been summoned by the EFCC to make statements as to his handling of the Board while he served as its chief executive officer.
Investigations by National Daily also revealed that 2011 only a paltry sum of N11,522,808 was remitted into the Federation account while N25, 303,274 and N13,926,462 were remitted in 2013 and 2014 respectively.
It was however gathered that nothing was remitted into the coffers of government in 2010, 2012, 2015 and 2016.

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