i

EXEMPTION POLICY

1) A candidate must process exemptions if eligible before sitting for Examinations.

He/she cannot qualify with Exemption.

2) A candidate cannot be exempted from a subject that has been attempted and failed.

Exemption is a waiver or exclusion from writing some papers in the CIBN professional

exams that have previously been written and passed while acquiring other qualifications e.g

BSc, HND, MSc, PhD etc. This can be done via our website www.cibng.org with the

candidates membership no and password.

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

ii

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**

▪ Business Law**

▪ Fundamentals of

Marketing**

▪ Business

Communication Skills**

4 Other

qualifications

accepted by the

Institute

• Subject for subject

exemptions 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

iii

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

B.Sc/HND

Accounting/

Accountancy

• All subjects at

Intermediate

Professional level

EXCEPT

International Trade

and Finance.

• Management of

Financial Institutions

at Chartered Banker

level based on

transcript

At Intermediate Professional

level, exemptions granted

include: Financial &

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

▪ Human Capital

Management

▪ Banking Regulation

and Supervision

▪ Principles and Practice

of Risk Management

Intermediate

Professional Level

iv

Management Accounting,

Corporate Financial

Management

▪ International Trade and

Finance

▪ Strategic Management

and Leadership

▪ Marketing of Financial

Services

▪ Financial Economics

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

v

B.Sc/HND Business

Administration

At Intermediate Professional

level, exemptions granted

include: Financial &

Management Accounting

Intermediate

Professional Level

▪ International Trade and

Finance

▪ Strategic Management

and Leadership

▪ 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

vi

B.Sc/HND Marketing

At Intermediate Professional

level, exemptions granted

include: Marketing of

Financial Services

▪ Banking Regulation

and Supervision

▪ Principles and Practice

of Risk Management

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:

vii

▪ Financial Planning and

Control

▪ Treasury Management

▪ Human Capital

Management

▪ 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

viii

B.Sc/HND

Economics

At Intermediate Professional

level, exemptions granted

include: Financial

Economics.

▪ Principles and Practice

of Risk Management

Intermediate

Professional Level

▪ 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:

ix

B.Sc (Ed)

Accounting

All diploma level subjects

with the EXCEPTION of

Elements of Banking

▪ 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**

▪ Corporate Financial

Management**

▪ Marketing of Financial

Services**

Chartered Banker Level

x

B.Sc (Ed) Business

Administration

All diploma level subjects

with the EXCEPTION of

Elements of Banking

▪ 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

Intermediate

Professional Level

▪ International Trade and

Finance

▪ Financial Economics**

xi

▪ 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

Plus one Elective from

the following:

▪ Financial Planning and

Control

▪ Treasury Management

▪ Human Capital

Management

▪ Banking Regulation

and Supervision

xii

B.Sc (Ed)

Economics

All diploma level subjects

with the EXCEPTION of

Elements of Banking,

Business Law,

Fundamentals of Marketing

▪ Principles and Practice

of Risk Management

Diploma Level

▪ Elements of Banking

▪ 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

xiii

▪ 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. CIBN-Accredited

Institutions

B.Sc./HND (Banking

& Finance) from

Institutions

accredited by CIBN

• At Intermediate

Professional level,

exemptions granted

include: Financial

Economics, Financial

& Management

Accounting,

Marketing of

Financial Services

• None at Chartered

Banker Level

Intermediate

Professional Level

▪ International Trade and

Finance

▪ Strategic Management

and Leadership

▪ Corporate Financial

Management **

Chartered Banker Level

▪ Banking Law, Ethics

and Corporate

Governance

xiv

▪ 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

3. Non-Accredited

Institutions

B.Sc./HND (Banking

& Finance) from

Institutions not

accredited by CIBN

• At Intermediate

Professional level

exemptions granted

include: Financial

Economics.

Intermediate

Professional Level

▪ International Trade and

Finance

▪ Strategic Management

and Leadership

▪ Financial and

Management

Accounting

▪ Corporate Financial

Management

xv

• None at Chartered

Banker Level

▪ 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

4. Related Disciplines

B.Sc./HND in related

disciplines, e.g.

Business

Administration,

• Subject for subject

exemption at

Intermediate

Professional level

with the EXCEPTION

Intermediate

Professional Level

▪ International Trade and

Finance

▪ Financial Economics**

xvi

Economics,

Accountancy, etc.

of International Trade

and Finance.

• None at Chartered

Banker Level

▪ 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

Plus one Elective from

the following:

▪ Financial Planning and

Control

▪ Treasury Management

▪ Human Capital

Management

▪ Banking Regulation

and Supervision

xvii

▪ Principles and Practice

of Risk Management

5 Other Related

Professional

Qualifications

Holders of

Professional

Qualifications e.g.

ACA, ACCA, ACIS,

ACTI, ACS

• 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**

▪ 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

xviii

▪ 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,

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

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

▪ Human Capital

Management

xix

▪ Banking Regulation

and Supervision

▪ Principles and Practice

of Risk Management

7 M.Sc. Banking &

Finance, MBF, MBA

(Finance option)

• Subject for subject

exemption at

Intermediate

Professional level

based on Official

Transcript 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

▪ Management of

Financial Institutions**

▪ Practice of Banking

xx

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

8 MBA, M.Sc., Ph. D.,

in Social and

Management

Sciences

• 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**

▪ Strategic Management

and Leadership**

Chartered Banker Level

▪ Banking Law, Ethics

and Corporate

Governance

xxi

• None at Chartered

Banker Level

▪ 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

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**

xxii

• None at Chartered

Banker Level

▪ Quantitative

Techniques**

▪ Business

Communication Skills**

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

xxiii

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)

(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.

xxiv

S/N Qualification Exemptions Applicable Subjects to be Examined

1

B.Sc./HND

(Banking &

Finance)

• All subjects at Intermediate

Professional level EXCEPT

International Trade and

Finance.

• Management of Financial

Institutions at Chartered Banker

level based on transcript.

Intermediate Professional

Level

▪ International Finance

and Trade

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

2 Related

Disciplines

• Subject for subject exemption

at Intermediate Professional

Intermediate Professional

Level

xxv

B.Sc./HND in a

related

discipline, e.g.

Business

Administration,

Economics,

Accountancy,

etc.

level with the EXCEPTION of

International Trade and

Finance

• Management of Financial

Institutions at Chartered Banker

level based on transcript.

▪ International Trade and

Finance

▪ Financial Economics**

▪ Financial and

Management

Accounting**

▪ 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

xxvi

▪ Human Capital

Management

▪ Banking Regulation and

Supervision

▪ Principles and Practice

of Risk Management

3 Other Related

Professional

Qualifications

Holders of

Professional

Qualifications,

e.g. ACA,

ACCA, ACIS,

ACTI, ACS

• 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

xxvii

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 M.Sc. Banking

& Finance,

MBF, MBA

(Finance option)

• 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**

▪ Marketing of Financial

Services.**

▪ Strategic Management

and Leadership**

▪ Corporate Financial

Management**

Chartered Banker Level

xxviii

• 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

5 MBA, M.Sc.,

Ph. D., in Social

and

Management

Sciences

• 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**

xxix

• Management of Financial

Institutions at Chartered Banker

level based on transcript.

▪ 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

**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

(e) Exemptions for CIMA Graduates

Pathways to the ACIB Designation for CGMA Holder

xxxi

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

• All Subjects at Intermediate Professional Level except International Trade and Finance

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

• Financial and Management Accounting

• Marketing of Financial Services

• Strategic Management and Leadership

• Corporate Financial Management

Chartered Banker Level

• Financial Planning & Control

• Element of Banking

Intermediate Professional

Level

• Financial Economics

• 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