How much does a auditor earn in Nigeria?

Auditors in Nigeria are responsible for examining financial records and processes to ensure accuracy, compliance with local regulations, and proper management of organisational resources. They play a crucial role in preventing fraud, advising on best practices, and enhancing financial transparency for businesses, government bodies, and non-profit organisations.

The average salary for a auditor in Nigeria can vary based on the employer, location, and experience. The approximate figures are:

Note: These figures are estimates and can vary. Senior and specialized professionals may earn significantly more.

• Entry Level (0 - 2 years): 120000 - 200000
• Mid Level (3 - 6 years): 220000 - 400000
• Senior Level (7+ years): 450000 - 700000
• Audit Manager / Lead: 750000 - 1200000

• Bachelor’s Degree (e.g., B.Sc. Accounting, Banking & Finance): Holders of a relevant first degree can expect initial salaries between 120000 to 250000 per month.
• Postgraduate Degree (e.g., M.Sc. Accounting, MBA): Those with postgraduate qualifications typically earn 15-25% more than their counterparts with only a bachelor's degree.
• Chartered Accountant (ICAN, ANAN): Professionals who have completed ICAN (Institute of Chartered Accountants of Nigeria) or ANAN (Association of National Accountants of Nigeria) certifications can command higher salaries, with senior auditors earning up to 700000 per month or above.

In Nigeria, becoming an auditor requires a strong foundation in accounting and finance, relevant professional certifications, and hands-on experience in auditing or related financial roles.

1. Obtain a bachelor’s degree in Accounting, Banking & Finance, or related field from a recognised Nigerian university.
2. Complete the National Youth Service Corps (NYSC) programme.
3. Pursue professional accounting qualifications such as ICAN or ANAN to boost employability and career progression.
4. Gain entry-level experience through internships or trainee positions in audit firms, consulting firms, or corporate audit departments.
5. Develop technical and interpersonal auditing skills through on-the-job experience.
6. Participate in ongoing professional development courses and seminars, especially through local professional bodies.
7. Work towards becoming an Audit Senior or Manager as experience grows.

The foundational educational requirement for auditors in Nigeria is typically a bachelor’s degree in Accounting, Banking and Finance, Economics, or a closely related field from a university approved by the National Universities Commission (NUC). Many employers prefer graduates from reputable institutions such as the University of Lagos (UNILAG), Obafemi Awolowo University (OAU), or Ahmadu Bello University (ABU). Further education, such as an MSc or relevant MBA, can enhance career prospects.

To practice as an auditor in Nigeria, individuals are encouraged to obtain membership in professional bodies such as ICAN (Institute of Chartered Accountants of Nigeria) or ANAN (Association of National Accountants of Nigeria). These certifications are highly regarded by employers in both the public and private sectors and are often a prerequisite for advancement to senior roles. Additional certifications such as Certified Internal Auditor (CIA) or ACCA (Association of Chartered Certified Accountants) can further boost career opportunities.

Establishing a strong LinkedIn profile is vital for auditors seeking new roles or professional connections in Nigeria. Include clear details about your academic background (specifying Nigerian institutions), highlight ICAN or ANAN memberships, and showcase relevant work experience and technical skills. Join LinkedIn groups related to Nigerian accounting and auditing, such as 'ICAN Members Nigeria' or 'Nigeria Audit Professionals Network,' to expand your visibility and access job postings.

See how a auditor's salary in Nigeria compares to other professions. This can help you understand your earning potential and career options.