Chartered Institute of Finance and Control of Nigeria (CIFCN) is registered under the companies and Allied Matters Act (CAMA) 1990,
as a professional institute, after securing the approvals of the Federal Ministries of Education and Justice.
The Institute is dedicated principally to promoting efficient financial management and control, due process, accountability and transparency, through capacity building with a view to overcoming poor financial management and control in both the private and public sector of the Nigerian economy.
It is the mandate of the Institute to build and develop the skills and capacity of its members and other finance professionals who will have attitudinal change towards finance management by evolving sound Financial Control Systems. It will also regulate its members' activities, set ethical standards, promote professional transparency, accountability and intergrity.
"To be one of the foremost institutes that finance professionals can
identify with for capacity building in finance and control which will translate to achieving their enterprise objectives in a more
effective and efficient manner".
CIFCN MISSION STATEMENT
"To develop relevant training programmes that will enhance
manpower capacity building in finance and control for optimum results and productivity in all sectors of the economy".
- To provide a platform which finance professionals can identify and relate with.
- To train and retrain members to acquire professional skills that will enable them be financial control analysts and practise as same.
- To build and instill into the consciousness of finance professionals, control system as a veritable tool for achieving enterprise goals and objectives.
- To redefine finance and financial control with a new philosophy that will optimize the functions of Finance managers.
- To develop the art and science of financial control and make it relevant in both private and public sectors.
- To assist in the establishment of standards in the practice of finance and financial control.
- To instill high-level professional discipline amongst members in the discharge of their responsibilities to their organizations
- To provide a unique platform for members to cross-pollinate ideas in finance and control.
- To promote ethical standards, professional transparency and integrity in the discharge of financial functions by members
- To organize on regular basis, seminars, workshops, conferences and symposia to build
capacity and develop skills of members for effective and efficient performance in their work place.
CIFCN CORE VALUE"... building a generation of Excellent Finance Professionals"
The Institute welcome prospective members into different grades of membership. Prospective members are advised to read through the different grades of membership available to know where they best qualified to practice as a member of the Chartered Institute of Finance and Control of Nigeria.
UNIQUE BENEFITS FOR MEMBERS
- Members will acquire skills that will make them professionals in budgeting planning, financial consultancy, inventory control/analysis,
financial analysis and public finance.
- Members will be more marketable in the highly competitive labour market with the financial skills acquired from the institute.
- Members will be sought after, as professionalism in financial control is novel.
- The institute will develop skills and technology based knowledge crucial to the success of a new culture in finance and financial control.
- It will stimulate in its members, a deeper understanding of control systems in finance that are success factors in the implementation
of corporate finance policies of organizations.
- The institute offers members excellent opportunity for career development.
CIFCN FELLOW membership is open only to the pioneering members of the institute, and for those who have distinguished themselves as professionals in their chosen fields particularly in Finance, Banking, Accounting, Economics, Marketing etc.
Such person for this grade must prove that he/she has occupied a financial management position for not less than 5 years and with qualifications like M.Sc., MBA, Ph.D and Professorship in Social Sciences.
Qualified applicants can Download the Fellowship Application Form, print, fill and submit with photocopies of certificates and a brief job profile to the Institute's National Secretariat / Administrative Head Office with Fifteen Thousand Naira (N15,000) registration form fees only.
Alternatively, prospective members can Download the Fellowship Membership Form, fill, scan the form, scan evidence of payments to the Institutes Bank Account and mail to firstname.lastname@example.org
Shortlisted applicants will be invited for an interactive interview on a date to be communicated to them during which their credentials are screened.
ASSOCIATE MEMBERSHIP (ACIFC) (By Direct Entry)
This membership grade is awarded to Holders of HND, B.Sc, Ph.D in Accounting, Economics, Banking and Finance, Mathematics & Statistics, Business Administration, Insurance, Marketing etc.
Staff of Ministries and Parastatals (level 08 and above), Staff of Financial Institutions, Credit and Pension Administration firms. Members of professional bosides such as ICAN, ACCA, ICEN, CIBN, CITN, NIM, ANAN, ACIS, ACAI, ACII, ICA etc.
ASSOCIATE MEMBERSHIP (ACIFC) (By Examination) As soon as the institute puts in place its qualifying professional examination, the Associate membership grade will only be open to candidates who have passed all the parts of the qualifying examination and have also satisfied all other requirements as prescribed by the council of the institute. All other qualifications for this grade of membership shall be same as those specified for Direct membership above. Members of this grade can use the perquisite, ACIFC after their names.
Qualified applicants can Download the Associate Application Form, print, fill and submit with photocopies of certificates and a brief job profile to the Institute's National Secretariat / Administrative Head Office with the required form fee. Form fee is Seven Thousand Five Hundred Naira (N7,500) only.
ALTERNATIVELY prospective members can Download the Associate Membership Form, fill, scan the form, scan evidence of payments to the Institutes Bank Account and mail to email@example.com Applicants will be invited for an interactive interview on a date to be communicated to them during which their credentials are screened.
The CORPORATE MEMBERSHIP is reserved for some organisations, firms and companies who are known for their high application of financial control systems in their operation, and who have contributed to the development of Financial Management, Accounting, Economics, Marketing, Business Administration and other sector of the nation's economy.
Prospective organisation is advised to visit the Institute's National Secretariat / Administrative Head Office with the certificates of incorporation for further discussion and processing.
The STUDENT MEMBERSHIP is open to holders of the following qualifications:
- a. OND/NCE/HND/B.Sc in any social science from recognized Nigerian or overseas' Polytechnic, University, College of Education etc.
- b. Any other professional certificate or Diploma reconized by the board of other institute like ICAN, CIBN, ICEN, CITN, NIM, ANAN, ICMA,
ACCA, ACIS, ACAI, ACII, ICA etc.
- c. Those who have years of work experience in the three tiers of government, financial institutions, firms whose jobs have control contents.
The following are the areas of practice for a person who qualifies as a member of the Chartered Institute of Finance and Control of Nigeria.
- Employment in positions where finance and control services are required in the public, private, not for profit and non governmental organizations.
- Establishment of professional firm of Chartered Finance Controllers, in which the following services are to be provided:
a. Provision of financial and control advisory services in both the public and private sector organizations, sourcing and disbursement of funds, alternative sources of finance, and the most appropriate source to be used for a project, the appropriateness or otherwise of the money market, or capital market for raising funds for a project, for enhancing the overall financial management and control.
b. Provision of finance and control service, risk assessment/management and establishment of good lending/credit policies, with a view to enhancing liquidity positions and mitigate the risk exposure of the client’s organization.
c. Provision of credit rating services to both financial and non-financial business organization, and vendor rating to both public and private sector organizations, with a view to enhancing the quality of risk assets, providing a better way of evaluating debtors and suppliers, enhanced credit worthiness assessment and reduction of the level of bad debt and failed contracts in the economy.
d. Provision of services to clients who are consumers of financial products, on how to mitigate the risk exposures of financial products, enhanced portfolio management and diversification and guiding them on how to select the best financial mix.