Banks have been instructed not to sell ePins above N3,500.
The order was given by the Joint Admissions and Matriculation Board, JAMB.
The ePins are for the 2021 Unified Tertiary Matriculation Examination, UTME.
The JAMB Registrar, Prof Ishaq Oloyede, gave the warning on Tuesday while meeting with representatives of financial institutions ahead of the sales of ePins which will start next month.
According to him, 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.
Mr Oloyede, therefore, warned that any financial institution caught selling the ePin above the stipulated price will be de-listed and prosecuted.
The board also asked the institutions to ensure that all ePins are transferred electronically to the candidates to avoid hardship on them.
The board said it will not accept handwritten ePins from any financial institutions in order to avoid mistakes during the process of writing it.
Banks are expected to get 30, 000 ePins from the board while microfinance banks and other payment platforms will receive 10, 000 ePins through the board.