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EXEMPTION POLICY
Exemptions are subject to review from time to time. Currently, they are as follows:
(a) Exemptions for Diploma Examination
S/N Qualification Exemptions Applicable Subjects to be Examined
1 ND/NCE
ND/NCE (Banking
and Finance) or
(Financial
Studies) from
Institutions on
Linkage
Programme
All subjects at Diploma
level EXCEPT
Quantitative
Techniques.
Quantitative Techniques
2 CIBN-Accredited
Institutions
ND/NCE (Banking
and Finance)
All subjects at Diploma
level EXCEPT
Quantitative
Techniques and
Information &
Communication
Technology
Information and
Communication
Technology
Quantitative Techniques
3. Non-Accredited
ND/NCE
ND/NCE (Banking
and Finance) or
(Business-related
Courses)
Subject for subjects
based on Official
Transcript.
Information and
Communication
Technology.
Quantitative Techniques
Elements of Banking**
Basic Economics**
Accounting and Business
Finance**
ii
Business Law**
Fundamentals of
Marketing**
Business
Communication Skills**
4 Other
qualifications
accepted by the
Institute
Subject for subjects
based on Official
Transcript.
Information and
Communication
Technology
Quantitative Techniques
Elements of Banking**
Basic Economics**
Accounting and Business
Finance**
Business Law**
Fundamentals of
Marketing**
Business
Communication Skills**
** Exemption to be based on transcript(s)
(b) Exemptions for ACIB Professional Examination
S/N Qualification Exemptions Applicable Subjects to be Examined
1. ACIB Degree/HND
Linkage
B.Sc./HND(Banking
& Finance) from
Institutions on the
Linkage Programme
All subjects at
Diploma level
All subjects at
Intermediate
Professional level
EXCEPT
Intermediate
Professional Level
International Trade and
Finance
Chartered Banker Level
iii
B.Sc/HND
Accounting/
Accountancy
International Trade
and Finance.
Management of
Financial Institutions
at Chartered Banker
level
All subjects at Diploma level
At Intermediate Professional
level, exemptions granted
include: Financial &
Management Accounting,
Corporate Financial
Management
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Practice of Banking
Plus one Elective from
the following:
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
Intermediate
Professional Level
International Trade and
Finance
Strategic Management
and Leadership
Marketing of Financial
Services
Financial Economics
Chartered Banker Level
iv
B.Sc/HND Business
Administration
All subjects at Diploma level
At Intermediate Professional
level, exemptions granted
include: Financial &
Management Accounting
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions
Practice of Banking
Plus one Elective from
the following:
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
Intermediate
Professional Level
International Trade and
Finance
Strategic Management
and Leadership
v
Marketing of Financial
Services
Financial Economics
Corporate Financial
Management
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions
Practice of Banking
Plus one Elective from
the following:
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
vi
B.Sc/HND Marketing
All subjects at Diploma level
At Intermediate Professional
level, exemptions granted
include: Marketing of
Financial Services
Intermediate
Professional Level
International Trade and
Finance
Strategic Management
and Leadership
Financial Economics
Corporate Financial
Management
Financial &
Management
Accounting
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions
Practice of Banking
Plus one Elective from
the following:
Financial Planning and
Control
Treasury Management
Human Capital
Management
vii
B.Sc/HND
Economics
All subjects at Diploma level
At Intermediate Professional
level, exemptions granted
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions
Practice of Banking
Plus one Elective from
the following:
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
Intermediate
Professional Level
viii
include: Financial
Economics.
International Trade and
Finance
Strategic Management
and Leadership
Financial and
Management
Accounting
Corporate Financial
Management
Marketing of Financial
Services
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions
Practice of Banking
Plus one Elective from
the following:
Financial Planning and
Control
Treasury Management
Human Capital
Management
ix
B.Sc (Ed)
Accounting
All diploma level subjects
with the EXCEPTION of
Elements of Banking
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
Diploma Level
Elements of Banking
Intermediate
Professional Level
International Trade and
Finance
Financial Economics**
Financial and
Management
Accounting**
Strategic Management
and Leadership**
Corporate Financial
Management**
Marketing of Financial
Services**
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
x
B.Sc (Ed) Business
Administration
All diploma level subjects
with the EXCEPTION of
Elements of Banking
Management of
Financial Institutions
Practice of Banking
Plus one Elective from
the following:
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
Diploma Level
Elements of Banking
Intermediate
Professional Level
International Trade and
Finance
Financial Economics**
Financial and
Management
Accounting**
Strategic Management
and Leadership**
xi
B.Sc (Ed)
Economics
All diploma level subjects
with the EXCEPTION of
Corporate Financial
Management**
Marketing of Financial
Services**
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions
Practice of Banking
Plus one Elective from
the following:
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
Diploma Level
Elements of Banking
xii
Elements of Banking,
Business Law,
Fundamentals of Marketing
Business Law
Fundamentals of
Marketing
Intermediate
Professional Level
International Trade and
Finance
Financial Economics**
Financial and
Management
Accounting**
Strategic Management
and Leadership**
Corporate Financial
Management**
Marketing of Financial
Services**
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions
Practice of Banking
xiii
Plus one Elective from
the following:
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
2. CIBN-Accredited
Institutions
B.Sc./HND (Banking
& Finance) from
Institutions
accredited by CIBN
All At Intermediate
Professional level,
exemptions granted
except International
Trade and Finance
Chartered Banker Level
Management of
Financial Institutions
Intermediate
Professional Level
International Trade and
Finance
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Practice of Banking
Plus one Elective from
the following:
Financial Planning and
Control
Treasury Management
xiv
Human Capital
Management
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
3. Non-Accredited
Institutions
B.Sc./HND (Banking
& Finance) from
Institutions not
accredited by CIBN
All subjects at
Diploma level
At Intermediate
Professional level
exemptions granted
include: Financial
Economics and
Corporate Financial
Management
None at Chartered
Banker Level
Intermediate
Professional Level
International Trade and
Finance
Strategic Management
and Leadership
Financial and
Management
Accounting
Marketing of Financial
Services
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions
Practice of Banking
xv
Plus one Elective from
the following:
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
4. Related Disciplines
B.Sc./HND in related
disciplines, e.g.
Business
Administration,
Economics,
Accountancy, etc.
All subjects at
Diploma level
Subject for subject
exemption at
Intermediate
Professional level
with the EXCEPTION
of International Trade
and Finance.
Intermediate
Professional Level
International Trade and
Finance
Financial Economics**
Financial and
Management
Accounting**
Strategic Management
and Leadership**
Corporate Financial
Management**
Marketing of Financial
Services**
Chartered Banker Level
xvi
None at Chartered
Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions
Practice of Banking
Plus one Elective from
the following:
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
5 Other Related
Professional
Qualifications
Holders of
Professional
Qualifications e.g.
ACA, ACCA, ACIS,
ACTI, ACS
All subjects at
Diploma level
Subject for subject
exemption at
Intermediate
Professional level
with the EXCEPTION
of International Trade
and Finance
Intermediate
Professional Level
International Trade and
Finance
Financial Economics**
Strategic Management
and Leadership**
Corporate Financial
Management**
xvii
None at Chartered
Banker Level
Marketing of Financial
Services**
Financial and
Management
Accounting**
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions
Practice of Banking
Plus one Elective from
the following
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
6 ACIB/ M.Sc.
Banking & Finance,
All subjects at
Diploma level
Intermediate
Professional Level
xviii
MBF, MBA
(Finance option)
Linkage
All subjects at
Intermediate
Professional level
EXCEPT
International Trade
and Finance.
Management of
Financial Institutions
at Chartered Banker
level based on
transcript
International Trade and
Finance
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Practice of Banking,
Plus one Elective from
the following:
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
7 M.Sc. Banking &
Finance, MBF, MBA
(Finance option)
All subjects at
Diploma level
Subject for subject
exemption at
Intermediate
Professional level
based on Official
Intermediate
Professional Level
International Trade and
Finance
Financial Economics**
xix
Transcript with the
EXCEPTION of
International Trade
and Finance.
Management of
Financial Institutions
at Chartered Banker
level based on
transcript.
Financial and
Management
Accounting**
Marketing of Financial
Services.**
Strategic Management
and Leadership**
Corporate Financial
Management**
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions**
Practice of Banking
Plus one Elective from
the following
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
xx
Principles and Practice
of Risk Management
8 MBA, M.Sc., Ph. D.,
in Social and
Management
Sciences
All subjects at
Diploma level
Subject for subject
exemption at
Intermediate
Professional level
with the EXCEPTION
of International Trade
and Finance
None at Chartered
Banker Level
Intermediate
Professional Level
International Trade and
Finance
Financial Economics**
Strategic Management
and Leadership**
Corporate Financial
Management**
Marketing of Financial
Services**
Strategic Management
and Leadership**
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions
Practice of Banking
Plus one Elective from
the following
xxi
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
Principles and Practice
of Risk Management
9 All Other
Degrees/HND and
Professional
qualifications .e.g
ACIPM,ANIM,ANIPR
etc
Subject for subject
exemption at
Diploma and
Intermediate
Professional levels
with the EXCEPTION
of International Trade
and Finance
Diploma Level
Elements of Banking**
Basic Economics**
Accounting and
Business Finance**
Business Law**
Fundamentals of
Marketing**
Information and
Communication
Technology**
Quantitative
Techniques**
Business
Communication Skills**
Intermediate
Professional Level
International Trade and
Finance
xxii
None at Chartered
Banker Level
Financial Economics**
Strategic Management
and Leadership**
Corporate Financial
Management**
Marketing of Financial
Services**
Strategic Management
and Leadership**
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions
Practice of Banking
Plus one Elective from
the following
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation
and Supervision
xxiii
Principles and Practice
of Risk Management
** Exemption to be based on transcript(s)
(c) Exemptions for Practitioners.
Criteria for Eligibility
The criteria for eligibility are as follows
The prospective candidate must have spent not less than 10 years in the Banking and
Finance Industry.
He/she must have attained a minimum of manager grade.
He/she has obtained an academic/professional qualification such as:
B.Sc/HND in Banking and Finance
B.Sc/HND in a related discipline like Economics, Business Administration and
Accounting.
ACA, ACIS, ACIPM or any other qualification as may be prescribed by the
Governing Council from time to time.
Candidate must be registered with the Institute as a student or in any other
membership category except Graduate, Associate and Fellow grades.
S/N Qualification Exemptions Applicable Subjects to be Examined
1
B.Sc./HND
(Banking &
Finance)
All subjects at Diploma level
All subjects at Intermediate
Professional level EXCEPT
International Trade and
Finance.
Intermediate Professional
Level
International Finance
and Trade
Chartered Banker Level
xxiv
Management of Financial
Institutions at Chartered Banker
level based on transcript.
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions**
Practice of Banking
Plus one Elective from the
following:
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation and
Supervision
Principles and Practice
of Risk Management
2 Related
Disciplines
B.Sc./HND in a
related
discipline, e.g.
Business
Administration,
Economics,
All subjects at Diploma level
Subject for subject exemption
at Intermediate Professional
level with the EXCEPTION of
International Trade and
Finance
Intermediate Professional
Level
International Trade and
Finance
Financial Economics**
Financial and
Management
Accounting**
xxv
Accountancy,
etc.
Management of Financial
Institutions at Chartered Banker
level based on transcript.
Strategic Management
and Leadership**
Corporate Financial
Management**
Marketing of Financial
Services**
Chartered Banker Level
Practice of Banking,
Bank Lending and
Credit Administration
Banking Law, Ethics
and Corporate
Governance
Management of
Financial Institutions**
Plus one Elective from the
following
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation and
Supervision
Principles and Practice
of Risk Management
xxvi
3 Other Related
Professional
Qualifications
Holders of
Professional
Qualifications,
e.g. ACA,
ACCA, ACIS,
ACTI, ACS
All subjects at Diploma level
Subject for subject exemption
at Intermediate Professional
level with the EXCEPTION of
International Trade and
Finance
Management of Financial
Institutions at Chartered Banker
level based on transcript.
Intermediate Professional
Level
International Trade and
Finance
Financial Economics**
Strategic Management
and Leadership**
Corporate Financial
Management**
Marketing of Financial
Services**
Strategic Management
and Leadership**
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions**
Practice of Banking
Plus one Elective from the
following
Financial Planning and
Control
xxvii
Treasury Management
Human Capital
Management
Banking Regulation and
Supervision
Principles and Practice
of Risk Management
4 M.Sc. Banking
& Finance,
MBF, MBA
(Finance option)
All subjects at Diploma level
Subject for subject exemption
at Intermediate Professional
level with the EXCEPTION of
International Trade and
Finance.
Management of Financial
Institutions at Chartered Banker
level based on transcript.
Intermediate Professional
Level
International Trade and
Finance
Financial Economics**
Financial and
Management.
Accounting**
Marketing of Financial
Services.**
Strategic Management
and Leadership**
Corporate Financial
Management**
Chartered Banker Level
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
xxviii
Management of
Financial Institutions**
Practice of Banking
Plus one Elective from the
following
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation and
Supervision
Principles and Practice
of Risk Management
5 MBA, M.Sc.,
Ph. D., in Social
and
Management
Sciences
All subjects at Diploma level
Subject for subject exemption
at Intermediate Professional
level with the EXCEPTION of
International Trade and
Finance.
Intermediate Professional
Level
International Trade and
Finance
Financial Economics**
Strategic Management
and Leadership**
Corporate Financial
Management**
Marketing of Financial
Services**
Chartered Banker Level
xxix
Management of Financial
Institutions at Chartered Banker
level based on transcript.
Banking Law, Ethics
and Corporate
Governance
Bank Lending and
Credit Administration
Management of
Financial Institutions**
Practice of Banking
Plus one Elective from the
following
Financial Planning and
Control
Treasury Management
Human Capital
Management
Banking Regulation and
Supervision
Principles and Practice
of Risk Management
**Exemption to be based on transcript(s)
(viii) Exemption Forms
Exemption Application Forms are obtainable on-line or from the National Secretariat,
Lagos, National Secretariat Annex, Abuja, Eastern Zonal Office, Owerri and
branches.
xxx
(d) Exemptions for RIMAN Graduates
S/N Qualification Exemptions Applicable Subjects to be Examined
1
Graduates of
RIMAN
All subjects at Diploma
Level
Subject for subject
exemption at Intermediate
Professional level with the
EXCEPTION of
International Trade and
Finance
Chartered Banker Level
Principles & practice of Risk
Management (elective in the
chartered banker level).
Intermediate Professional
Level
International Trade and
Finance
Financial Economics**
Financial and Management
Accounting**
Strategic Management and
Leadership**
Corporate Financial
Management**
Marketing of Financial
Services**
Chartered Banker Level
Banking Law, Ethics and
Corporate Governance
Bank Lending and Credit
Administration
Management of Financial
Institutions**
Practice of Banking
xxxi
(e) Exemptions for CIMA Graduates
Pathways to the ACIB Designation for CGMA Holder
QUALIFICATION EXEMPTION APPLICABLE SUBJECTS TO BE EXAMINED
CGMA + BSc/MSc in Banking & Finance, Accounting, Economics and Business Administration or MBA
All Subjects at Diploma level
(8 subjects)
All Subjects at Intermediate Professional Level except International Trade and Finance
(5 subjects).
Chartered Banker Level
Financial Planning & Control
International Trade and Finance
Chartered Banker Level
Banking Law, Ethics and Corporate Governance
Bank Lending and Credit Administration
Management of Financial Institutions*
Practice of Banking
*Candidates can be exempted from Management of Financial Institutions based on Transcript.
CGMA only All Subjects at Diploma level except Elements of Banking (7 subjects)
Financial and Management Accounting
Marketing of Financial Services
Strategic Management and Leadership
Corporate Financial Management
Element of Banking
Intermediate Professional
Level
Financial Economics
International Trade and
Finance
Chartered Banker Level
Banking Law, Ethics and Corporate Governance
xxxii
Chartered Banker Level
Financial Planning & Control
Bank Lending and Credit Administration
Management of Financial Institutions
Practice of Banking