Oloyede declared that the Board returned N7.8 billion to the Federal Government coffers from the proceeds of examination forms sold in 2017.
He said the fund was sourced from the N12billion income made during the year.
He said JAMB had effected changes in the process and procedure for registration and conduct of examinations for candidates to curb malpractices in the processes.
Oloyede spoke journalists at the weekend in Ilorin, Kwara State.
He dismissed reports that JAMB increased the examination fee, saying the agency only reduced the fee payable for the examination.
He said the Board also significantly reduced the amount paid for examinations by foreign applicants, adding that it was aimed at encouraging huge number of them.
Oloyede said the agency introduced Central Admission Processing System (CAPS) in the bid to address the imbalance observed in the admission process for applicants.
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