ICAN Registration Requirements in Nigeria 2021

How To Join ICAN in Nigeria

ICAN is an acronym often used in place of Institute of Chartered Accountants of Nigeria.

ICAN Registration Requirements in Nigeria

It is the biggest or highest professional body for all accountants practising in Nigeria.

It is an umbrella body which unites all practising accountants in Nigeria.

Morestill, ICAN is the most recognized professional body for accountants in Nigeria.

Hence most students of accounting are advised to register and join ICAN in Nigeria.

To Join ICAN in Nigeria requires certain registration processes and procedures.

It also cost a fee to register for ICAN. The headquarters of ICAN is located at Plot PC. 16, Idowu Taylor Street, Victoria Island ,Lagos.

The professional body boost of over 50,000 members and fast growing.

The major aim and aspiration of ICAN in Nigeria is to ensure and encourage professionalism in accountancy in Nigeria.

So, in this post, we will be discussing ICAN registration requirements and ICAN registration fees.

What is ICAN

ICAN stand for Institute of Chartered Accountants of Nigeria.

It is an umbrella body that unites all accountants in Nigeria.

It is one of the best professional body to join as accounting or financial course related graduate.

It is also important to note that ICAN membership in Nigeria is not only open to graduates of accountancy but graduates of other financial related courses and other persons who share in their interests and activities.

So, graduates of other discipline can as well join ICAN.

To Join ICAN in Nigeria mean to be fully Chartered as an accountant.

How Much is ICAN Registration Fee

To get ICAN registration and membership status comes with a fee.

This is because of certain processes that are carried to fully integrate new members of ICAN.

Now, one can join ICAN either as graduate or as student.

To Join ICAN as graduate means to join as professional student while becoming member of ICAN as non graduate means to join ICAN as Accounting Technician Scheme of West Africa (ATSWA) student.

Registering as member of ICAN under the two categories requires different ICAN Registration fees.

ICAN registrations fees for graduates (Professional students) is N7000.

The registration fee for ATSWA ICAN student membership is N6000.

How To Register for ICAN Membership in Nigeria

The registration process for ICAN in Nigeria is dependent of type of membership.

The procedure to register as professional is different from student’s ICAN registrations process.

Below are some of the way of joining ICAN in Nigeria.

Steps to Register for ICAN as Professional (Graduate)

Below are some ICAN registration steps and procedures in Nigeria.

  • Pay Professional examination registration fee of N7000 at any commercial bank or using online payments merchants like WEB-PAY or Quickteller.
  • Use your teller number or transaction reference receipt number to complete an online form at ICAN official website.
  • Click submit on completion of the online form.
  • Print the completed form and endorse it.
  • Attach the following documents to the form: Original copy of the pay direct receipt/transaction reference, Certified photocopies of your credentials and educational qualifications and any of (NYSC discharged certificate, call-up letter or students academic transcripts). The transcripts should be addressed to Registrar/Chief Executive of the Institute.
  • Get Chartered accountant to endorse your application form and credential upon completion.
  • Submit hardcopy of forms at any ICAN office nationwide.

Steps To Register for ICAN as ATSWA Student

Below are some requirements for joining ICAN as student.

  • Pay registration fee of N6000 at any commercial banks or using online payments merchants like Quickteller or Webpay.
  • Go to ICAN official website and generate serial number using teller no or transaction reference receipt number.
  • Complete and submit the form online
  • Print out the completed form and sign on it.
  • Attach the following documents to the form: original copy of payment slip, Certified photocopies of your credentials any (NECO,WASCE, NABTEB, OND, NCE).
  • Get a Chartered accountant or associate accounting technician to endorse your forms, credential and application.
  • Submit hardcopy of form any any ICAN office nationwide.

Benefits of Joining ICAN in Nigeria

Members of ICAN in Nigeria stands to gain some benefits through their membership of the professional body. Some of the benefits of ICAN are:

  • Insurance: life assurance of N1.5 to N2 million is available for next of kin member.
  • ICAN members have access to benevolent and educational trust fund.
  • Members of ICAN is open to accessing research grants in tune of N500,000.
  • Help members secure employment through ICAN employment breau.
  • Discounts at some of the most luxurious and best hotels in Nigeria’s top cities of Abuja, Lagos, Port Harcourt and Ibadan.

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The Author

Emmanuel Igwenagu

Igwenagu Emmanuel is the founder of Nigerian Informer. He holds B.A, M.Sc in Mass Communication. He is a Communication researcher and 112 emergency help line dispatcher.

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