This is a detailed guide on how to become a chartered accountant in Nigeria.
We all know a thing or two about what accountants do. We know they keep and interpret financial records for the individuals or large organizations that employ them.
Accountants are very useful as they play a huge role in making sure profit is being maximized and expenses are minimized.
With the knowledge of accountants and what they do, have you sometimes wondered who a Chartered accountant is? If you have, this article has the answer.
Chartered accountants (often referred to as CA) are professional accountants who are qualified to perform some specific activities in the field of accountancy.
This qualification gives them an edge over people who are merely accountants. Activities performed by chartered accountants include filing corporate tax returns, auditing financial statements, and giving financial advice.
Chartered accountants serve in four areas; financial accounting and reporting, applied finance, management accounting, and taxation.
Every chartered accountant specializes in one of these four areas and they sometimes oversee the accounting activities of the organization they work for. Some chartered accountants even become freelancers or consultants for hire.
In Nigeria, without being a chartered accountant, you are only limited to jobs your university degree can secure.
These jobs are however not as lucrative as the ones you can get as a chartered accountant. Becoming a chartered accountant may cost more money and require motivation after obtaining an accounting degree, but it is worth the sacrifice.
Hence, if you wish to become a chartered accountant in Nigeria, this guide will help.
Also See: How To Register For GMAT Exam In Nigeria
Steps To Become A Chartered Accountant In Nigeria
The steps to take in becoming a chartered accountant in Nigeria are:
1. Obtain Your Secondary School Certificate
After completing your primary school, which is essential for every person, the next step is completing your secondary school education.
Primary schools do a good job in preparing students for higher learning, gradually easing them into the education system.
After completing junior school in your secondary school, you get promoted to Senior Secondary School 1 (SSS 1), which is the first class in senior school.
With the dream of becoming a chartered accountant, you are required to join the commercial class in SSS 1.
You then take subjects like mathematics, English, economics, accounting, and book-keeping, ensuring you get at least a credit grade in exams you take after your senior school.
These exams include the West African Examination Council (WAEC) and Nigerian Examination Council (NECO) examinations.
WAEC and NECO are two bodies that organize O’-level examinations in West Africa and Nigeria respectively.
You are required to pass two required subjects (English language and Mathematics) and your core subjects (Accounting and Economics) in not more than two sittings but preferably passing in one sitting.
2. Obtain A Degree In Accounting From A Recognized Nigerian University Or Polytechnic
After completing your secondary school education, the next step to take to become a chartered accountant in Nigeria is getting a degree in accounting from a tertiary institution.
This is after you must have passed your Unified Tertiary Matriculation Examination (UTME) which is organized by the Joint Admission and Matriculation Board (JAMB).
In most cases, Post-UTME examinations are organized by universities and polytechnics to screen candidates.
It takes about four years to study accounting in Nigerian tertiary institutions and you are expected to take your courses seriously, passing all examinations to avoid any delay.
3. Obtain A Professional Certificate
After you have completed your tertiary education and you have been certified as an accountant, the next step to becoming a chartered accountant is obtaining a professional certificate.
This professional certificate is obtained from any of the major certifying bodies in Nigeria. Some of these bodies are:
- 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 is the most popular accounting certification in Nigeria. It was founded in 1965 and it shares its name with its certification.
ICAN’s certification course is divided into two:
1. Accounting Technician Scheme (ATS)
Usually held twice a year; in March and September, it has 3 stages. These stages are ATS 1, ATS 2 and ATS 3. People with a degree in accounting are exempted from ATS 1 and ATS 2.
2. Professional Examination (P.E)
Like ATS, this also takes place twice a year; in May and November. It is also divided into 3 stages which are the intermediate stage, P.E 1, and P.E 2. After passing the professional examination, you will be certified as a chartered accountant by ICAN.
You should know that the ICAN exam is not an easy one to pass. Hence, be prepared beforehand. Learn how to pass ICAN exam at first sitting
Top Universities That Offer Accounting In Nigeria
Below is a list of Nigerian universities you can get a degree in accounting.
- Abia State University, Uturu, Abia State
- Adekunle Ajasin University, Akungba-Akoko, Ondo State
- Ahmadu Bello University, Zaria, Kaduna State
- American University of Nigeria, Yola, Adamawa State
- Bauchi State University, Gadau, Bauchi State
- Benue State University, Makurdi, Benue State
- Caritas University, Amorji-Nike, Enugu State
- Chukwuemeka Odumegwu Ojukwu University, Uli, Anambra State
- Cross Rivers University of Technology, Calabar, Cross River State
- Ebonyi State University, Abakaliki, Ebonyi State
- Ekiti State University, Ado-Ekiti, Ekiti State
- Elizade University, Ilara-Mokin, Ondo State
- Enugu State University of Science and Technology, Enugu State
- Evangel University, Akaeze, Ebonyi State
- Federal University of Agriculture, Makurdi, Benue State
- Federal University, Dutsin-Ma, Katsina State
- Federal University, Kashere, Gombe State
- Federal University, Wukari, Taraba State
- Igbinedion University, Okada, Benin City, Edo State
- Imo State University, Owerri, Imo State
- Lead City University, Ibadan, Oyo State
- Madonna University, Okija, Anambra State
- Mcpherson University, Seriki Sotayo, Ogun State
- Nasarawa State University, Keffi, Nasarawa State
- Niger Delta University, Wilberforce Island, Bayelsa State
- Nnamdi Azikiwe University, Awka, Anambra State
- Obafemi Awolowo University, Ile-Ife, Osun State
- Olabisi Onabanjo University, Ago-Iwoye, Ogun State
- Osun State University, Osogbo, Osun State
- Plateau State University, Bokkos, Plateau State
- Rivers State University of Science and Technology, Port Harcourt, Rivers State
- University of Abuja, Abuja
- University of Ilorin, Ilorin, Kwara State
- University of Lagos, Akoka, Lagos State
- University of Maiduguri, Maiduguri, Borno State
- University of Mkar, Gboko, Benue State
- University of Nigeria, Enugu Campus, Enugu State
- University of Port-Harcourt, Choba, Rivers State
- University of Uyo, Akwa Ibom State
- Usmanu Danfodiyo University, Sokoto, Sokoto State
- Wellspring University, Irhihi/Ogbaneki, Benin City, Edo State
- Western Delta University, Oghara, Delta State
Polytechnics That Offer Accounting In Nigeria
The polytechnics in Nigeria where you can get a degree in accounting are:
- Abdul-Gusau Polytechnic, Talata-Mafara, Zamfara State.
- Abia State Polytechnic, Aba, Abia State
- Abraham Adesanya Polytechnic, Ijebu-Igbo, Ogun State
- Abubakar Tatari Ali Polytechnic, Bauchi, Bauchi State
- Adamawa State Polytechnic, Yola, Adamawa State
- Akanu Ibiam Federal Polytechnic, Unwana, Afikpo, Ebonyi State
- Akwa Ibom State College of Arts and Science Nung, Ukim, Akwa Ibom State
- Akwa-Ibom State Polytechnic, Ikot-Osurua, Akwa Ibom State
- Allover Central Polytechnic, Ota, Ogun State
- Auchi Polytechnic, Auchi, Edo State
- Bayelsa State College of Arts and Science, Yenagoa, Bayelsa State
- Benue State Polytechnic, Ugbokolo, Benue State
- College of Administrative and Business Studies, Potiskum, Yobe State
- College of Technology, Iresi, Osun State
- Covenant Polytechnic, Aba, Abia State
- Crown Polytechnic, Odo Ado-Ekiti, Ekiti State
- S. Adegbenro ICT Polytechnic, Itori, Ogun State
- Delta State Polytechnic, Ogwashi-Uku, Delta State
- Delta State Polytechnic, Otefe, Delta State
- Delta State Polytechnic, Ozoro, Delta State
- Dorben Polytechnic, Bwari-Garam Road, Fct-Abuja
- Eastern Polytechnic, Port Harcourt, Rivers State
- Edo State Institute of Technology and Management, Edo State
- Federal Polytechnic Offa, Kwara State
- Federal Polytechnic, Bali, Adamawa State
- Federal Polytechnic, Bauchi, Bauchi State
- Federal Polytechnic, Bida, Niger State
- Federal Polytechnic, Damaturu, Yobe State
- Federal Polytechnic, Ede, Osun State
- Federal Polytechnic, Idah, Kogi State
- Federal Polytechnic, Kaura/Namoda, Kaduna State
- Federal Polytechnic, Mubi, Adamawa State
- Federal Polytechnic, Nassarawa State
- Federal Polytechnic, Nekede, Imo State
- Federal Polytechnic, Oko, Anambra State
- Federal Polytechnic,Ilaro, Ogun State
- Federal Polytechnic, Ado-Ekiti, Ekiti State
- Federal Polytechnic, Ukana, Abia State
- Fidei Polytechnic, Gboko, Benue State
- Gateway ICT Polytechnic, Saapade, Ogun State
- Grace Polytechnic, Lagos State
- Hassan Usman Katsina Polytechnic, Katsina State
- Heritage Polytechnic, Ikot Udota, Akwa Ibom State
- Hussaini Adamu Federal Polytechnic, Kazaure, Jigawa State
- Igbajo Polytechnic, Osun State
- Igbo-Owu Polytechnic, Kwara State
- Imo State Polytechnic, Umuagwo, Owerri, Imo State
- Institute of Management And Technology, Enugu State
- Interlink Polytechnic, Ijebu-Jesa, Osun State
- Jigawa State Polytechnic, Dutse, Jigawa State
- Kaduna Polytechnic, Kaduna, Kaduna State
- Kalac Christal Polytechnic, Lekki, Lagos State
- Kano State Polytechnic, Kano State
- Kings Polytechnic, Ubiaja, Edo State
- Kogi State Polytechnic, Lokoja, Kogi State
- Kwara State Polytechnic, Ilorin, Kwara State
- Lagos City Polytechnic, Ikeja, Lagos State
- Lagos State Polytechnic, Ikorodu, Lagos State
- Light House Polytechnic, Eubuobanosa, Edo State
- Mai Idris Alooma Polytechnic, Geidam, Yobe State
- Moshood Abiola Polytechnic, Abeokuta, Ogun State
- Nacabs Polytechnic, Akwanga, Nasarawa State
- Nasarawa State Polytechnic, Lafia, Nasarawa State
- Niger State Polytechnic, Zungeru, Niger State
- Nogak Polytechnic, Mile 2 Road, Ikom, Cross River State
- Nuhu Bamalli Polytechnic, Zaria, Kaduna State
- Ogun State Institute of Technology, Igbesa, Ogun State
- Our Saviour Institute Of Science and Technology (Poly) Enugu, Enugu State
- Plateau State Polytechnic, Barkin-Ladi, Plateau State
- Ramat Polytechnic, Maiduguri, Borno State
- Rivers State College of Arts and Science, Port Harcourt, Rivers State
- Rivers State Poly, Bori, Rivers State
- Ronik Polytechnic, Ikeja, Lagos State
- Rufus Giwa Polytechnic, Owo, Ondo State
- Temple-Gate Polytechnic, Osisioma, Abia State
- Oke-Ogun Polytechnic, Saki, Oyo State
- The Polytechnic, Ile-Ife, Osun State
- Uyo City Polytechnic, Uyo (Uyo-Citypoly) , Uyo, Akwa-Ibom State
- Valley View Polytechnic, Ohafia, Abia State
- Waziri Umaru Federal Polytechnic Birnin Kebbi, Kebbi State
- Wolex Polytechnic, Ikeja, Lagos State
- Yaba College of Technology, Yaba, Lagos State
That is all on how to become a chartered accountant in Nigeria.