The board said, Candidates are expected to pay financial institutions N3,500 for ePIN and N500 for the books they will use for the examination, totaling N4,000.
They also charge financial institutions to ensure that all ePINs are transferred electronically to the candidates to ensure that they don’t face any hiccups in registration.
JAMB Registrar, Prof. Is-haq Oloyede, announced this at a meeting with representatives of financial institutions ahead of the sale of ePINs next month.
Oloyede warned that any financial institution caught selling the ePIN above the stipulated price would be de-listed and prosecuted.
According to him, "ePIN will be sold at N3,500 to the candidates but what comes to JAMB is N3,290 because as you, our partners (financial institutions) retain N210.
"But what you collect from the candidates is actually N4,000 because N500 that belongs to the book vendors you help us collect.
"In the past, these book vendors would collect their money and they wouldn’t even pay the token they were paying to us. In some cases, they were selling the books beyond the prescribed price.
"When candidates were frustrated, they would buy the books at between N1,000 and N2,000. That is why we insisted they must sell the books through us. We collect their money for them (vendors) and ensure that it is from us they will collect their money.
"Cost of ePIN and the book remains N4,000. That is why we have now made your six per cent commission to be N210.
"We are the one paying the commission on behalf of book vendors because they are collecting their money in full, but we are paying. It pays us better.
"You (financial institutions) will be responsible for the activities of your agents. We will not want to listen to the fact that ‘Oh, it is my agent; I am not the one.’ Once your agent commits an infraction, it is assumed that you have committed it because your agent represents you in law.
"Whatever your agent does, he has done it on your behalf. Make sure your agents do not extort our candidates. You know we have zero tolerance for extortion.
"The forms must not be sold one kobo above N3,500. That is, you must not take a kobo above N4,000. Any kobo above N4,000 is a violation, which we will not tolerate.
"You know all of us in Nigeria are complaining everybody is bad. But if everybody should take care of its own corner of the table, Nigeria will be better for us all."
The registrar also warned banks and its agents against extortion and hoarding of the forms.
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