How to become a chartered accountant in Nigeria

A chartered accountant is a professional that belongs to a financial body, manages the finances of an entity, offers financial advice, and helps with fund management. In this post, you learn how to become a chartered accountant in Nigeria.

You will also learn the differences between an accountant and a chartered accountant, and how much chartered accountants earn per month in Nigeria. We also have a list of universities and polytechnics that offer accounting as a course.

Who is a chartered accountant in Nigeria?

According to Accounting Tools, an accountant is a professional who keeps track of business transactions on behalf of an entity, prepares reports on the company’s financial performance, issues financial statements, and manages funds, amongst other things.

What is the difference between an accountant and a chartered accountant?

Unlike normal accountants, chartered accountants are more educated and certified. They’re usually bestowed with a legal statute to perform certain financial actions that other individuals working in the financial sector cannot otherwise do.

Also, chartered accountants usually belong to a recognized financial body in the region. There are two professional accountancy associations with a regulatory authority in Nigeria.

• Institute of Chartered Accountants of Nigeria (ICAN)
• Association of National Accountants of Nigeria (ANAN)

How to become a chartered accountant in Nigeria

Here I the path to becoming a chartered accountant in Nigeria:

1. Obtain your secondary school certificate

The Nigerian educational system uses the 6-3-3-4. This system of education allows students to spend 6 years at the primary level, 3 years at the junior secondary school level, 3 three years at the senior secondary level, and 4 years at the tertiary level.

After enrolling in a secondary school, the first 3 years (JSS 1 – 3) will be spent on general subjects that are very broad. Starting from the 4th year (SSS 1 – 3) the students will be allowed to pick from 3 main classes.

• Art class
• Science class
• Commercial class

The class you select will determine which career you will pursue in the future. To become a chartered accountant in Nigeria, you have to pass through the commercial class.

Aside from the general English language and Mathematics, you must be very knowledgeable in economics, accounting, commerce, and bookkeeping.

After 3 years, you will be eligible to sit for the West African Examination Council (WAEC) and the Nigerian Examination Council (NECO) examinations. 

2. Obtain an accounting degree from a university or polytechnic

Before you can study accounting in most Nigerian universities and polytechnics, you must have at least a C6 grade in English Language, Mathematics, Economics, Government, and Commerce.

The Unified Tertiary Matriculation Examination (UTME) subject requirements for accounting are English Language, Mathematics, Economics and one other related subject.

Most universities in Nigeria have 120 as their minimum JAMB cutoff. You must also have a good score in their Post-UTME exam. If you’ll be enrolling in a polytechnic, you must have at least 100/400 in your UTME exam.

After studying accounting for four years in the tertiary institution of your choice, you will be awarded a degree certificate.

3. Obtain a professional accounting certificate

You can obtain a professional accounting certificate from any of the certifying bodies in Nigeria. Here are some of them.

• Institute of Chartered Accountants of Nigeria (ICAN)
• Associate of the Institute of Chartered Accountants (ACA)
• Association of National Accountants of Nigeria (ANAN)
• Chartered Institute of Management Accountants (CIMA)

ICAN and ANAN are both accountancy associations and regulatory authorities in Nigeria. ICAN is the most popular of the two.

Becoming certified as a chartered accountant by ICAN in Nigeria

Requirements needed to be certified by the Institute of Chartered Accountants of Nigeria (ICAN)

• A Degree from an accredited Nigerian University or HND from a recognized Nigerian Polytechnic.
• A minimum of Five Credits in your O Level Results
• 2 recent passport photographs
• Photocopies of your Academic Transcripts and NYSC discharge certificate

Pathways to the Institute of Chartered Accountants of Nigeria (ICAN)

The ATS Route

This route is meant for you if you are yet to enrol in or graduate from any tertiary institution. You can use your O Level results, but it must not be more than two sittings.

The Professional Route

1. You can apply for ICAN as an Accounting Graduate with your BSC or HND results. In this case, you will start from the second stage of ICAN (The Skills Level).

2. If you are a graduate but did not study Accounting as a first degree, you can also apply for ICAN. In this case, you will be required to start from the basic level.

How much does a chartered accountant earn in Nigeria?

According to Salary Explorer, the average monthly salary of a chartered accountant in Nigeria is NGN 313,000.

According to Pay Scale, the average annual base salary of a chartered accountant in Nigeria is NGN 2,824,800.

List of federal, state, and private universities that offer accounting in Nigeria

1. Abia State University, Uturu, Abia State
2. Adekunle Ajasin University, Akungba-Akoko, Ondo State
3. Ahmadu Bello University, Zaria, Kaduna State
4. American University of Nigeria, Yola, Adamawa State
5. Bauchi State University, Gadau, Bauchi State
6. Benue State University, Makurdi, Benue State
7. Caritas University, Amorji-Nike, Enugu State
8. Chukwuemeka Odumegwu Ojukwu University, Uli, Anambra State
9. Cross Rivers University of Technology, Calabar, Cross River State
10. Ebonyi State University, Abakaliki, Ebonyi State
11. Ekiti State University, Ado-Ekiti, Ekiti State
12. Elizade University, Ilara-Mokin, Ondo State
13. Enugu State University of Science and Technology, Enugu State
14. Evangel University, Akaeze, Ebonyi State
15. Federal University of Agriculture, Makurdi, Benue State
16. Federal University, Dutsin-Ma, Katsina State
17. Federal University, Kashere, Gombe State
18. Federal University, Wukari, Taraba State
19. Igbinedion University, Okada, Benin City, Edo State
20. Imo State University, Owerri, Imo State
21. Lead City University, Ibadan, Oyo State
22. Madonna University, Okija, Anambra State
23. Mcpherson University, Seriki Sotayo, Ogun State
24. Nasarawa State University, Keffi, Nasarawa State
25. Niger Delta University, Wilberforce Island, Bayelsa State
26. Nnamdi Azikiwe University, Awka, Anambra State
27. Obafemi Awolowo University, Ile-Ife, Osun State
28. Olabisi Onabanjo University, Ago-Iwoye, Ogun State
29. Osun State University, Osogbo, Osun State
30. Plateau State University, Bokkos, Plateau State
31. Rivers State University of Science and Technology, Port Harcourt, Rivers State
32. University of Abuja, Abuja
33. University of Ilorin, Ilorin, Kwara State
34. University of Lagos, Akoka, Lagos State
35. University of Maiduguri, Maiduguri, Borno State
36. University of Mkar, Gboko, Benue State
37. University of Nigeria, Enugu Campus, Enugu State
38. University of Port-Harcourt, Choba, Rivers State
39. University of Uyo, Akwa Ibom State
40. Usmanu Danfodiyo University, Sokoto, Sokoto State
41. Wellspring University, Irhihi/Ogbaneki, Benin City, Edo State
42. Western Delta University, Oghara, Delta State

List of federal, state, and private polytechnics that offer accounting in Nigeria

1. Abdul-Gusau Polytechnic, Talata-Mafara, Zamfara State.
2. Abia State Polytechnic, Aba, Abia State
3. Abraham Adesanya Polytechnic, Ijebu-Igbo, Ogun State
4. Abubakar Tatari Ali Polytechnic, Bauchi, Bauchi State
5. Adamawa State Polytechnic, Yola, Adamawa State
6. Akanu Ibiam Federal Polytechnic, Unwana, Afikpo, Ebonyi State
7. Akwa Ibom State College of Arts and Science Nung, Ukim, Akwa Ibom State
8. Akwa-Ibom State Polytechnic, Ikot-Osurua, Akwa Ibom State
9. Allover Central Polytechnic, Ota, Ogun State
10. Auchi Polytechnic, Auchi, Edo State
11. Bayelsa State College of Arts and Science, Yenagoa, Bayelsa State
12. Benue State Polytechnic, Ugbokolo, Benue State
13. College of Administrative and Business Studies, Potiskum, Yobe State
14. College of Technology, Iresi, Osun State
15. Covenant Polytechnic, Aba, Abia State
16. Crown Polytechnic, Odo Ado-Ekiti, Ekiti State
17. S. Adegbenro ICT Polytechnic, Itori, Ogun State
18. Delta State Polytechnic, Ogwashi-Uku, Delta State
19. Delta State Polytechnic, Otefe, Delta State
20. Delta State Polytechnic, Ozoro, Delta State
21. Dorben Polytechnic, Bwari-Garam Road, Fct-Abuja
22. Eastern Polytechnic, Port Harcourt, Rivers State
23. Edo State Institute of Technology and Management, Edo State
24. Federal Polytechnic Offa, Kwara State
25. Federal Polytechnic, Bali, Adamawa State
26. Federal Polytechnic, Bauchi, Bauchi State
27. Federal Polytechnic, Bida, Niger State
28. Federal Polytechnic, Damaturu, Yobe State
29. Federal Polytechnic, Ede, Osun State
30. Federal Polytechnic, Idah, Kogi State
31. Federal Polytechnic, Kaura/Namoda, Kaduna State
32. Federal Polytechnic, Mubi, Adamawa State
33. Federal Polytechnic, Nasarawa State
34. Federal Polytechnic, Nekede, Imo State
35. Federal Polytechnic, Oko, Anambra State
36. Federal Polytechnic,Ilaro, Ogun State
37. Federal Polytechnic, Ado-Ekiti, Ekiti State
38. Federal Polytechnic, Ukana, Abia State
39. Fidei Polytechnic, Gboko, Benue State
40. Gateway ICT Polytechnic, Saapade, Ogun State
41. Grace Polytechnic, Lagos State
42. Hassan Usman Katsina Polytechnic, Katsina State
43. Heritage Polytechnic, Ikot Udota, Akwa Ibom State
44. Hussaini Adamu Federal Polytechnic, Kazaure, Jigawa State
45. Igbajo Polytechnic, Osun State
46. Igbo-Owu Polytechnic, Kwara State
47. Imo State Polytechnic, Umuagwo, Owerri, Imo State
48. Institute of Management And Technology, Enugu State
49. Interlink Polytechnic, Ijebu-Jesa, Osun State
50. Jigawa State Polytechnic, Dutse, Jigawa State
51. Kaduna Polytechnic, Kaduna, Kaduna State
52. Kalac Christal Polytechnic, Lekki, Lagos State
53. Kano State Polytechnic, Kano State
54. Kings Polytechnic, Ubiaja, Edo State
55. Kogi State Polytechnic, Lokoja, Kogi State
56. Kwara State Polytechnic, Ilorin, Kwara State
57. Lagos City Polytechnic, Ikeja, Lagos State
58. Lagos State Polytechnic, Ikorodu, Lagos State
59. Light House Polytechnic, Eubuobanosa, Edo State
60. Mai Idris Alooma Polytechnic, Geidam, Yobe State
61. Moshood Abiola Polytechnic, Abeokuta, Ogun State
62. Nacabs Polytechnic, Akwanga, Nasarawa State
63. Nasarawa State Polytechnic, Lafia, Nasarawa State
64. Niger State Polytechnic, Zungeru, Niger State
65. Nogak Polytechnic, Mile 2 Road, Ikom, Cross River State
66. Nuhu Bamalli Polytechnic, Zaria, Kaduna State
67. Ogun State Institute of Technology, Igbesa, Ogun State
68. Our Saviour Institute Of Science and Technology (Poly) Enugu, Enugu State
69. Plateau State Polytechnic, Barkin-Ladi, Plateau State
70. Ramat Polytechnic, Maiduguri, Borno State
71. Rivers State College of Arts and Science, Port Harcourt, Rivers State
72. Rivers State Poly, Bori, Rivers State
73. Ronik Polytechnic, Ikeja, Lagos State
74. Rufus Giwa Polytechnic, Owo, Ondo State
75. Temple-Gate Polytechnic, Osisioma, Abia State
76. Oke-Ogun Polytechnic, Saki, Oyo State
77. The Polytechnic, Ile-Ife, Osun State
78. Uyo City Polytechnic, Uyo (Uyo-Citypoly) , Uyo, Akwa-Ibom State
79. Valley View Polytechnic, Ohafia, Abia State
80. Waziri Umaru Federal Polytechnic Birnin Kebbi, Kebbi State
81. Wolex Polytechnic, Ikeja, Lagos State
82. Yaba College of Technology, Yaba, Lagos State