EXCLUSIVE (PART 2): Whistleblowers Expose N43m Fictitious Car Deal, $589 Secret Account Ahead of JAMB Director’s Friday Exit

By
Ayekooto Media News Desk
  
Mufutau A. Bello 
Director, Joint Admissions and Matriculation Board 



ABUJA— The brewing crisis within the Joint Admissions and Matriculation Board (JAMB) has taken a devastating turn. Just 24 hours after 'Ayekooto Media' exclusively reported the imminent exit of a top JAMB Director, Mufutau Bello, amidst a N500 million probe, concrete documentary evidence detailing the specific financial infractions has surfaced.

A damning whistleblowing document, tagged 'Institutional Governance Series (IGS-012)' and obtained by 'Ayekooto Media', has laid bare a highly sophisticated web of alleged procurement fraud, illegal dual-office holding, and violations of the Money Laundering Act spanning several years.

As anti-graft agencies—including the EFCC and ICPC—zero in on the embattled director ahead of his forced exit this Friday, August 14, 2026, here are the four major financial revelations uncovered in the leaked dossier:

1. The N43.2 Million Fictitious Vehicle Contract
The most glaring allegation involves a ghost contract awarded to a company named De-damak Nigeria Ltd. According to the document, in January 2020, Bello personally signed an award letter for a N47,775,000 contract to supply 13 vehicles. The petition alleges that after tax deductions, a total of N43,225,000 was paid out to the company based on fabricated documentation. The 13 vehicles were reportedly never supplied to the Board.

2. Illegal Monopoly of Procurement and Finance
Civil service rules strictly mandate the segregation of duties to prevent fraud, but the whistleblowers allege a massive administrative breach. The document claims the embattled official simultaneously functioned as both the Director of Finance & Accounts (DFA) and the Director of Procurement. This illegal dual role allowed one individual to independently award contracts and subsequently approve the payments for them, completely bypassing internal checks and balances.

3. The Unauthorized $589,000 Domiciliary Account
In what appears to be a direct violation of Central Bank of Nigeria (CBN) regulations and the Money Laundering Act of 2011, the dossier reveals the operation of an unauthorized dollar domiciliary account. Between January 2018 and November 2023, over $589,000 was allegedly deposited in cash into this account without the approval of the Accountant-General of the Federation. The funds were reportedly sourced from Bureau de Change outlets, bypassing official CBN exchange protocols. Following an audit, the Auditor-General reportedly ordered the immediate closure of this account in February 2024.

4. Concealment of N187 Million SUVs in CBT Contracts
To evade the scrutiny of the Public Procurement Act, the petitioners allege that the cost of four Toyota SUVs, valued at N187,200,000, was deceptively embedded into unrelated contracts meant for the supply and networking of computer systems at JAMB CBT centers in Azare, Oshogbo, Abeokuta, and Benin City. 

The Friday Ultimatum
With these irrefutable documents now before the EFCC, ICPC, and the Federal Ministry of Education, transparency advocates are demanding the full recovery of the N43.2 million paid for the unsupplied vehicles. 

As 'Ayekooto Media' previously reported, Mufutau Bello is expected to officially vacate his office tomorrow, Friday, August 14. However, with the emergence of these detailed financial records, it is clear that his exit from JAMB will likely be the beginning of a prolonged legal battle with anti-graft agencies.

Ayekooto Media will bring you the final official update tomorrow as the embattled director bows out.





 


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David Alani Ige (The Scribe)

Publisher & Editor-in-Chief, Ayekooto Media

David Alani Ige is a seasoned journalist, strategic analyst, and the visionary publisher of Ayekooto Media. With a relentless commitment to archiving Nigeria's political realities and delivering the unvarnished truth, he has built a formidable platform for deep-dive reportage and editorial excellence. He is widely known by his readers and peers as "The Scribe".

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