Best universities to study accounting in Nigeria: ICAN exemptions, cut-off marks, and fees
Studying at an ICAN-accredited university can reduce the number of professional exams you sit after graduation — a decisive advantage for anyone pursuing chartered accountancy in Nigeria. This article covers the top universities for accounting in Nigeria, their JAMB cut-off marks, approximate fees, admission requirements, and how your choice of school affects your ICAN exemptions.
Source: UGC
TABLE OF CONTENTS
Key takeaways
- ICAN grants exemptions — papers you skip rather than sit — to candidates who hold a relevant accounting qualification. An accredited B.Sc in Accounting typically clears the whole Foundation level and some Skills papers.
- Candidates need five credit passes in SSCE (WAEC/NECO/GCE or equivalent), in not more than two sittings, for admission into any accounting programme.
- JAMB sets a minimum of 140 for all universities, but accounting programmes at competitive institutions require 180 or above.
- Entry-level accountants at small firms earn ₦80,000 to ₦150,000 monthly, while qualified accountants (ICAN or ACCA) at mid-tier companies typically earn ₦250,000 to ₦500,000.
Why your choice of university affects your ICAN journey
The Institute of Chartered Accountants of Nigeria (ICAN) says accounting graduates from universities will be exempted from 10 subjects instead of seven under the normal accreditation scheme.
ICAN has accredited the accounting programmes of dozens universities, polytechnics, and tuition training centres, which exempts their graduates from participating in foundational courses of the ICAN examination.
ICAN's accreditation is solely focused on the accounting syllabus of these educational institutions. The institute has also introduced another level of accreditation under the Mutual Recognition Agreement (MRA), which enables graduates to proceed to the final level and write only five subjects.
Accounting graduates can receive exemptions for most Foundation Level papers, saving approximately ₦34,000 in examination fees. Exemption processing fees range from ₦5,000–₦10,000 per paper, depending on the level.
Always confirm your school's status on the ICAN accredited list before enrolling, since students who graduate after the sessions covered in the accreditation will no longer enjoy exemption benefits until accreditation is revalidated.
Top universities for accounting in Nigeria
Universities such as UNILAG, Covenant University, OAU, UNN, UNIBEN, and ABU continue to stand out because of their strong academic reputation and graduate outcomes.
University of Lagos (UNILAG)
UNILAG is widely regarded as one of the best universities to study accounting in Nigeria. Located in Lagos, the country's financial centre, students benefit from easier access to banks, audit firms, consulting companies, and multinational organisations.
The university offers a B.Sc in Accounting alongside an M.Sc in Finance, and holds ICAN accreditation. Verify the latest accreditation status on the ICAN portal before applying.
Covenant University
Covenant University tops research rankings for accounting and is known for innovation and entrepreneurship integration. The university offers a B.Sc in Accounting with a fintech focus.
Covenant University has built an excellent reputation for business and management education. Students enjoy modern classrooms, quality learning facilities, reliable academic calendars, and practical business training. The university also encourages entrepreneurship and professional development alongside classroom learning.
Obafemi Awolowo University (OAU)
OAU has one of Nigeria's most respected accounting programmes. Founded in 1962, OAU is renowned for rigorous programmes, offering a B.Sc in Accounting with a management focus.
The university's facilities include IFRS-compliant labs and consulting clinics — strong preparation for professional practice.
University of Nigeria, Nsukka (UNN)
The University of Nigeria, Nsukka is another university to seriously consider. This prestigious university is located in the south-eastern geopolitical zone and has produced notable Nigerians in the accounting field.
Ahmadu Bello University (ABU), Zaria
Ahmadu Bello University is a very good school for studying accountancy in Nigeria and is popularly known for its excellent academic performance. ABU is renowned for its strong academic reputation and long history of producing qualified accountants. The accounting programme covers financial analysis, managerial accounting, and auditing practices.
University of Ilorin (UNILORIN)
The University of Ilorin is better by far compared to many other universities when it comes to studying accounting, and is one of the most competitive and sought-after universities in the country.
Cut-off marks and entry requirements
JAMB UTME requirements
You need at least five credits in English Language, Mathematics, Economics, Accounting or Commerce, and any other relevant social science or commercial subject.
Public universities use an aggregate score system combining JAMB and Post-UTME results. The general JAMB range for accounting is 180 to 260, but elite federal universities typically require 240 or higher.
Cut-off marks by institution (2026/2027)
University | Type | JAMB Cut-Off |
University of Lagos (UNILAG) | Federal | 200 |
Obafemi Awolowo University (OAU) | Federal | 200 |
University of Ibadan (UI) | Federal | 200 |
Ahmadu Bello University (ABU) | Federal | 180 |
University of Nigeria, Nsukka (UNN) | Federal | 180 |
University of Ilorin (UNILORIN) | Federal | 180 |
Lagos State University (LASU) | State | 190 |
Covenant University | Private | 150* |
Babcock University | Private | 150* |
*Private institutions' cut-off marks range from 140 to 200. However, these universities compensate with higher tuition fees and sometimes additional entrance assessments.
Meeting the cut-off mark for accounting in JAMB alone does not guarantee admission. Scoring high in JAMB, Post-UTME, and having strong O'Level results all improve admission chances.
Approximate fees by university
University | Annual Fees (approx.) | Type |
UNILAG | ₦100,000 – ₦190,000 | Federal |
ABU Zaria | ₦45,000 – ₦96,000 | Federal |
OAU | ₦89,200 – ₦151,200 | Federal |
Covenant University | ₦937,500 – ₦1,959,945 | Private |
Babcock University | ₦700,000 – ₦900,000 | Private |
UNILAG fees are approximately ₦100,000 – ₦190,000 per session. ABU Zaria fees are approximately ₦45,000 – ₦96,000 per session. OAU school fees are around ₦89,200 – ₦151,200 per session. Covenant University fees are approximately ₦937,500 – ₦1,959,945 per session. Babcock University fees are approximately ₦700,000 – ₦900,000 per session.
Note: Federal and state university fees fluctuate annually. Always confirm the current figure on each institution's official portal before payment.
Additional costs to budget for (not included above):
- ICAN student registration: a one-time fee of ₦15,000.
- Accommodation, feeding, and transport (varies by campus)
- Examination fees per ICAN diet
- Textbooks and professional study materials
How much are accountants paid in Nigeria?
The average accountant salary in Nigeria ranges from ₦150,000 to ₦400,000 monthly, with significant variation by industry, qualification, and company size.
Senior chartered accountants at top multinational corporations or Big 4 firms in Lagos earn upwards of ₦1,000,000 per month. At the other end, accountant salaries in Nigeria range from ₦80,000 at small firms to over ₦1,500,000 at top oil and gas multinationals.
Qualification is the biggest salary lever. According to ICAN, Nigeria needs over 50,000 more chartered accountants to meet international benchmarks — meaning demand for qualified professionals remains strong. See the Profolio salary guide for a full breakdown by industry and experience level.
Source: UGC
FAQs
Which university is best for accounting in Nigeria?
The University of Lagos, Covenant University, Obafemi Awolowo University, University of Nigeria Nsukka, and the University of Benin are widely regarded as some of the best choices. The right pick depends on your budget, location, and whether ICAN accreditation is active for your intended graduation year. Federal universities offer lower fees; private universities offer more consistent facilities.
What are the top 10 accounting schools in Nigeria?
UNILAG, Covenant University, OAU, UNN, UNIBEN, and ABU continue to stand out because of their strong academic reputation and graduate outcomes. Covenant University, Babcock University, and Afe Babalola University are among the leading private universities offering accounting in Nigeria. UNILORIN and ABU round out a competitive top ten for federal options.
How many ICAN exams can I skip with a university accounting degree?
ICAN says accounting graduates from universities will be exempted from 10 subjects instead of seven under the normal accreditation scheme. ICAN exempts named papers, not whole levels by default — though a strong accounting degree often covers an entire level. You pay per exempted paper. Apply through the ICAN exemptions portal after graduating.
What subjects do I need to study accounting at a Nigerian university?
You need at least five credits in English Language, Mathematics, Economics, Accounting or Commerce, and any other relevant social science or commercial subject. For your JAMB UTME subject combination, the standard requirement is English, Mathematics, Economics, and Accounting or Commerce. Confirm the exact combination with your chosen institution before registering.
Is accounting a good course to study in Nigeria?
Accounting remains one of the most respected and employable degree programmes in Nigeria. Every organisation — from banks and multinational companies to government agencies and small businesses — needs professionals who can manage finances, prepare reports, and ensure compliance with financial regulations. Combined with an ICAN or ACCA qualification, an accounting degree opens doors across virtually every sector of the Nigerian economy.
We also highlighted facts about the top 17 best universities to study Computer Science in Nigeria, including their locations, rankings, cut-off marks and academic strengths. The guide also explores the skills, career opportunities and admission requirements aspiring tech professionals should consider.
Source: Legit.ng
