The Cost of CFA Level 1 in Nigeria (2024)

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In today’s competitive world, professionals in the Accounting and Financial Sector are constantly seeking ways to enhance their knowledge and skills. One popular route is obtaining certifications, with the Chartered Financial Analyst (CFA) certification being highly regarded. Let’s delve into the details of CFA Level 1 in Nigeria, including costs and requirements.

Cost Breakdown:

  1. Registration Fee:
    • The enrollment fee is a one-time payment of $450.
  2. Examination Fees:
    • Early registration: $700
    • Regular application: $1000
    • Late registration: $1,450

Cost Conversion to Naira:

  • Early registration: N560,000
  • Regular application: N800,000
  • Late registration: N1,160,000

Total Cost:

The total cost for CFA Level 1 enrollment and registration is approximately N1,360,000.

Requirements for Enrollment:

  1. Bachelor’s degree or equivalent, or in the final year of study.
  2. Four years of professional work experience, if not meeting the educational requirement.
  3. Valid international travel passport.
  4. Part-time positions do not count towards the required work experience.

Scoring and Grading:

  • Candidates receive Pass/Fail status with no overall score.
  • Top 10 percent of candidates who fail receive detailed performance feedback.
  • Passing grade is set at 70 percent.


Obtaining the CFA Level 1 certification in Nigeria requires careful consideration of costs and meeting specific eligibility criteria. It’s a valuable investment for professionals looking to excel in the financial sector.


  1. Can I register for CFA Level 1 without a bachelor’s degree?

    • Yes, if you have four years of relevant work experience or a combination of work and college experience totaling four years.
  2. Is there a passing grade for CFA Level 1?

    • Yes, the passing grade is set at 70 percent of the top fraction of all candidates.
  3.  What is the scoring system for the CFA Level 1 exam?

    • Candidates receive Pass/Fail status, with detailed performance feedback provided to the top 10 percent of those who fail.
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