1. What Is Banking & Finance?
Banking & Finance is a field within business studies and management sciences that deals with the management of money, credit, investments, financial institutions, risk management, and financial markets. Graduates can pursue careers in commercial banking, central banking, investment analysis, financial consulting, risk management, corporate finance, fintech, and more.
2. JAMB (UTME) Subject Combination for Banking & Finance
To gain admission via UTME (JAMB) to study Banking & Finance, certain subject combinations are required. These vary slightly across sources, but generally follow a consistent pattern:
- Compulsory Subjects:
- English Language
- Mathematics
- Economics
- Fourth Subject (choose one):A social science or commercial arts subject, such as:
- Accounting / Principles of Accounts
- Commerce
- Government / Political Science
- Geography
- Further Mathematics or Statistics (in some cases)
Different universities may have slight variations (e.g., some accept Business Studies), so always check the specific school brochure.
3. O’Level (WAEC/NECO) Requirements
For SSCE (WAEC, NECO, NABTEB) candidates, most universities require:
- Minimum: Five (5) credit passes, usually in not more than two sittings.
- Compulsory O’Level Subjectsoften include:
- English Language
- Mathematics
- Economics
- Plus any two from: Accounting, Commerce, Government, Geography, Financial Accounting, or other relevant social-science subjects.
Some schools may accept a “pass” in certain subjects, but it is safer to aim for credit passes in all required O’Level subjects.
4. Direct Entry (DE) Requirements
Candidates who wish to enter at 200-level (Direct Entry) rather than through UTME may use any of the following commonly accepted qualifications:
- A‑Level: Two (2) A‑level passes in relevant subjects, such as Economics plus one of Mathematics, Accounting, Business Management, Government, or Statistics.
- ND / HND: National Diploma or Higher National Diploma in Banking & Finance, Accounting, or Business Administration. Usually a credit or lower credit is required.
- NCE (Nigeria Certificate in Education): Merit in relevant business/economics subjects.
- JUPEB / IJMB: Advanced-level equivalent in social science/business subjects may also be accepted.
5. JAMB Cut-off Marks for Banking & Finance
The cut-off mark (UTME) for Banking & Finance varies a lot depending on the university (federal, state, or private). Here is a breakdown based on recent data:
- According to some sources, typical cut-off ranges are 160 to 200 for many institutions.
- For 2026/2027, a list of universities shows many with a cut-off mark of 140 for Banking & Finance.
- More competitive universities may require 200+ in their admission calculations.
Tip: Because cut-off points fluctuate yearly, check the latest JAMB brochure and the specific admission requirements for your preferred university.
6. Universities Offering Banking & Finance (Undergraduate)
Here are some Nigerian universities that offer Banking & Finance (or closely related programs):
- Federal Universities:
- Ahmadu Bello University (ABU), Zaria
- Bayero University, Kano (BUK)
- University of Benin (UNIBEN)
- University of Abuja
- State Universities:
- Lagos State University (LASU)
- Adekunle Ajasin University (AAUA)
- Private Universities:
- Covenant University
- Ajayi Crowther University
- Caleb University (BSc Banking & Finance)
- University of Mkar
- Westland University, Iwo
- Lead City University
These are not exhaustive; many other universities in Nigeria offer the course. Always consult the university’s admission brochure for up-to-date information.
7. Postgraduate Requirements (Master’s, PhD)
If you plan to go further after a bachelor’s in Banking & Finance, here are common postgraduate pathways and their usual entry requirements:a. PGD (Postgraduate Diploma)
- Example: University of Jos requires: Five O’Level credits (including English, Mathematics), plus a bachelor’s degree (any discipline) or HND (lower credit) in a relevant field.
- Professional qualifications (e.g., ICAN, ACCA, CIBN) may be advantageous.
b. MSc / M.Sc. Banking & Finance
- University of Jos: Good honours degree (2nd class) in Banking, Finance, or related field.
- Other universities (e.g., University of Ibadan) may require a second class (upper) degree or a postgraduate diploma in the discipline.
- Some programs may also require relevant work experience, especially for professional master’s (e.g., MBA in Banking & Finance).
c. Master + PhD (MSc / MPhil / PhD)
- At University of Jos: To be admitted into PhD, a candidate usually needs an MSc in Banking & Finance (or closely related) with a good grade, e.g., B average (60%).
- At the University of Benin: For their PhD in Finance, they require a master’s with at least a 60% average (or equivalent).
- For combined MSc/PhD programs (or integrated first year of master), some universities (e.g., UNICAL) have special admission: they may start you on a “remedial” year, and require a specific CGPA to continue.
d. Doctoral (PhD)
- Typically requires: A master’s degree (MSc) in Banking/Finance.
- A minimum average or CGPA (e.g., B grade / 60%) in the master’s program including coursework and thesis.
- Some programs may also require O’Level credits (English, Mathematics, Economics) as part of eligibility.
8. Why These Requirements Matter
- Subject Combination: The JAMB subjects ensure you have the right foundation. Mathematics and Economics are key for quantitative and economic theory; the fourth subject (like Commerce or Government) adds business or policy context.
- O’Level Credits: Universities want to make sure students can handle the rigorous curriculum, especially in core financial mathematics, statistics, and accounting courses.
- Direct Entry: DE allows students who have done A‑levels, ND, HND, or other qualifications to skip the first year. It rewards prior learning and can save time and cost.
- Cut-Off Marks: Knowing the typical cut-off helps aspirants set a target for their UTME score and Post-UTME efforts. Since cut-off varies, you need to check your target university’s cut-off each year.
- Postgraduate Requirements: For those who want to specialize, do research, or aim for academia, understanding MSc/PhD requirements early helps shape your career path (e.g., whether to take professional exams, build work experience, or aim for high CGPA).
- University Choice: Knowing which universities offer Banking & Finance helps you apply strategically — considering cost (federal vs private), reputation, availability of postgraduate programs, and research focus.
9. Tips for Prospective Students
- Check University Brochures: Always find the most recent admission brochure for your chosen university. Requirements may change slightly year to year.
- Prepare for Post‑UTME: Many universities require a post-UTME or screening test. Scoring well there can boost your admission chances even if your JAMB score is only just above the cut-off.
- Work Experience: For postgraduate programs, especially professional masters, relevant work experience in banking or finance can strengthen your application.
- Professional Certifications: Consider gaining certifications from bodies like CIBN (Chartered Institute of Bankers of Nigeria), ICAN, ACCA, CFA, etc. They add weight to your CV and may help in postgraduate admission.
- Plan Long-Term: If you aspire to do a master’s or PhD, aim for a strong undergraduate GPA, and take on research or internships early to build your profile.
CAREER OPPORTUNITIES FOR BANKING AND FINANCE GRADUATES
Here’s a comprehensive guide to career opportunities for Banking and Finance graduates in Nigeria and globally. Graduates of Banking & Finance enjoy a broad range of career paths due to their understanding of financial markets, banking operations, investments, accounting, and risk management.
1. Banking Sector Careers
The banking industry is the most obvious and accessible path for Banking & Finance graduates:
- Commercial Banks: Roles include credit analyst, loan officer, relationship manager, branch manager, risk analyst, treasury officer, and customer service manager.
- Investment Banks: Work in mergers & acquisitions, corporate finance, underwriting, and financial advisory services.
- Central Bank / Regulatory Institutions: Positions include policy analyst, monetary operations officer, financial examiner, or regulatory compliance officer.
- Microfinance Banks: Opportunities for credit management, finance officer, or operations management in smaller-scale banking.
Key Skills: Financial analysis, credit evaluation, risk assessment, and customer relationship management.
2. Accounting and Auditing Roles
Although Banking & Finance is distinct from Accounting, graduates often find roles in:
- Accounting Firms: Auditor, financial consultant, or tax advisor.
- Internal Audit in Companies: Risk management, fraud detection, financial compliance.
- Corporate Finance Departments: Budgeting, financial planning, cost analysis.
Professional Certifications (like ICAN, ACCA, or CIMA) can enhance employability in these areas.
3. Insurance and Risk Management
Graduates can work in the insurance industry, handling:
- Risk assessment and management.
- Underwriting policies and claims processing.
- Financial planning for clients and companies.
Employers: Insurance companies, reinsurance firms, consulting agencies, and risk management departments in banks.
4. Investment and Asset Management
Opportunities in investment companies, stockbroking firms, and fund management include:
- Portfolio Manager: Manages clients’ investments in stocks, bonds, or other assets.
- Investment Analyst: Researches market trends and evaluates investment opportunities.
- Stockbroker / Trader: Buying and selling securities on behalf of clients.
- Financial Planner / Wealth Manager: Advises high-net-worth clients on investments and financial strategies.
Skills Needed: Analytical thinking, market knowledge, Excel & financial modeling, and familiarity with investment software.
5. Government and Regulatory Agencies
Banking & Finance graduates are qualified for roles in:
- Economic Planning & Policy Making: Ministries of Finance, Budget, or Planning.
- Tax Authorities: Roles in compliance, auditing, or financial inspection.
- Central Bank and Securities & Exchange Commission (SEC): Financial regulation, market supervision, monetary policy analysis.
6. Corporate and Business Sector Roles
Every corporate organization needs finance experts:
- Financial Analyst: Tracks company performance, prepares reports, and advises management.
- Treasury Manager / Accountant: Manages corporate cash flow and investments.
- Budget Analyst: Plans and monitors budgets for departments or the entire organization.
- Business Development / Credit Analyst: Assesses creditworthiness of clients or partners.
Industries: Manufacturing, telecommunications, oil & gas, real estate, logistics, and consultancy.
7. Entrepreneurship and Fintech
Banking & Finance graduates can start their own businesses or join fintech companies:
- Fintech Startups: Roles in financial product development, payment platforms, mobile banking, or blockchain solutions.
- Financial Consultancy: Advising small and medium enterprises (SMEs) on business financing, investment, and growth strategies.
- Microfinance / Credit Solutions: Starting your own lending platform or cooperative society.
8. International Organizations
Opportunities are not limited to Nigeria. Graduates can work with:
- World Bank / IMF / UN / African Development Bank: Financial analysis, project management, or economic advisory roles.
- Global Investment Banks & Consulting Firms: JP Morgan, Goldman Sachs, Deloitte, PwC, KPMG, EY, and others.
9. Academic and Research Careers
Graduates can pursue further studies (MSc, PhD) to work in:
- Universities as lecturers or researchers in banking, finance, or economics.
- Research institutions focusing on financial markets, risk management, or monetary policy.
- Policy think tanks providing recommendations for economic and financial reforms.
10. Certifications and Skills That Boost Career Prospects
- Professional Certifications:
- Chartered Institute of Bankers of Nigeria (CIBN)
- CFA (Chartered Financial Analyst)
- ACCA, ICAN, CPA
- FRM (Financial Risk Manager)
- Key Skills:
- Financial analysis & modeling
- Data analysis & statistics
- Risk assessment & management
- Problem-solving and strategic thinking
- Communication and report writing
11. Summary
Banking & Finance graduates enjoy versatile career paths in:
- Banking & Financial Institutions – core banking, investment, microfinance.
- Corporate Sector – treasury, finance, budgeting, credit analysis.
- Insurance & Risk Management – underwriting, claims, actuarial analysis.
- Investment & Asset Management – portfolio management, stockbroking, wealth management.
- Government & International Organizations – policy-making, regulation, financial oversight.
- Academia & Research – lecturer, researcher, think tank analyst.
- Entrepreneurship & Fintech – startups, financial consultancy, mobile banking.
With additional certifications and relevant work experience, Banking & Finance graduates can rise to senior management positions, become financial consultants, or even start their own financial firms. The career opportunities are vast, making it one of the most promising business-oriented courses in Nigeria and beyond.
Conclusion
Banking & Finance is a highly relevant and lucrative course in Nigeria, offering multiple pathways into the financial services sector and academia. To succeed in gaining admission and moving up the academic ladder, you need to:
- Choose the correct JAMB subject combination (English, Mathematics, Economics, plus a social science/commercial subject).
- Obtain the required O’Level credits in core subjects.
- For Direct Entry, have strong A-levels, ND/HND, or equivalent.
- Aim for a competitive JAMB score, while also preparing for post-UTME.
- If heading into postgraduate studies, meet the MSc and PhD requirements, and consider work experience and professional certifications.
With the right preparation and academic planning, you can build a solid foundation for a career in banking, finance, risk management, investment, or research.
