ICAN Versus ACCA: Choosing an Accounting Qualification in Nigeria
By Muntasir • Published Sep 18, 2026 • Updated Sep 20, 2026 • Fields of Study
ICAN costs far less in naira and fits Nigeria's audit and tax rules directly. ACCA costs more because its fees are billed in British pounds, but it carries wider international recognition.
💵 ICAN has a one-time registration fee of ₦15,000 (2025) plus per-paper exam fees.
ACCA registration costs £89, with each paper billed separately in pounds.
🎓 ICAN's ACA has 15 papers across Foundation, Skills and Professional levels.
ACCA has up to 13 papers across Applied Knowledge, Applied Skills and Strategic Professional, with exemptions for a Nigerian accounting degree.
ICAN membership is required to sign audit reports for Nigerian companies.
Two Different Qualifications, Same Career
ICAN and ACCA both lead to chartered accountant status. The Institute of Chartered Accountants of Nigeria (ICAN) is the local body that regulates the accounting profession in Nigeria and licenses auditors. ACCA, the Association of Chartered Certified Accountants, is a UK-based body with recognition in over 180 countries. Neither qualification replaces a university degree. Both sit on top of one, usually a BSc in Accounting or a related field, though ACCA also accepts candidates straight from secondary school through its Foundation-level entry route.
Entry Requirements
ICAN's Foundation level requires five WAEC or NECO credits including English Language and Mathematics, obtained in no more than two sittings. Direct entry to the Skills level needs a university degree or Higher National Diploma in accounting or a related field. ACCA accepts candidates with three A-levels or equivalent plus two additional subjects including English and Mathematics for its main entry route. Candidates without these start with the ACCA Foundation-level diploma before moving into the main qualification.
Exam Structure
ICAN's ACA qualification runs across three levels, Foundation, Skills and Professional, covering 15 papers in total (ICAN ). A university accounting graduate typically gets exemptions from the Foundation level and starts at Skills, cutting the number of papers you must sit.
ACCA also runs three levels: Applied Knowledge, Applied Skills and Strategic Professional, with up to 13 exams depending on your exemptions (ACCA Global ). Graduates of accredited Nigerian accounting degrees claim exemptions from several Applied Knowledge and Applied Skills papers, sometimes starting closer to the Strategic Professional level.
Cost Comparison
| Item | ICAN | ACCA |
|---|---|---|
| Registration fee (2025) | ₦15,000 | £89 |
| Fee currency | Naira | British pounds |
| Approx. total qualification cost | Lower, largely naira-denominated | ₦1,000,000 to ₦2,000,000 or more |
ACCA's pound-denominated fees push your naira cost up whenever the exchange rate weakens, on top of the exam fees themselves (ACCA Nigeria fee guide, 2025 ). ICAN fees stay in naira throughout, which makes budgeting more predictable even though the institute reviews rates from time to time.
How Long Each Takes
Most accounting graduates finish ICAN's ACA in about 1.5 to 2 years, sitting papers across multiple exam diets a year. ACCA typically takes 2 to 3 years for the same profile, partly because of exemption processing time and partly because the Strategic Professional level requires an Ethics and Professional Skills module alongside the written exams.
Recognition and Career Paths
ICAN membership is what Nigerian law requires to sign audit reports for companies registered in Nigeria and to hold many public-sector finance and accounting positions. If your career plan stays inside Nigeria, especially in audit, tax practice or government finance, ICAN gets you there directly.
ACCA opens doors at multinational firms, international NGOs and roles that take you outside Nigeria. Many Big Four firms and multinational employers recognize ACCA globally without extra conversion. If you want to work across African countries or relocate eventually, ACCA's international footprint carries more weight with employers unfamiliar with ICAN.
Which One to Choose
Choose ICAN if you plan to audit Nigerian companies, work in Nigerian government finance, or want the lower, more predictable naira cost.
Choose ACCA if you target multinational employers, want to work outside Nigeria, or your firm already sponsors ACCA training.
Some accountants pursue both. A Nigerian accounting degree plus ICAN membership, followed by ACCA papers later using exemptions, is a common path for those who want local licensing and international recognition together.
Practical Notes
Both bodies require continuing professional development after qualification to keep your membership active. Both also require a minimum period of supervised practical experience before you count as a full member, not only an exam-passer. Check exemption levels for your specific degree directly with ICAN or ACCA, since universities differ in how many exemptions their accounting programs earn.