Introduction:
Boom or Bust—Can Finance Still Be Your Golden Ticket?
In times of economic instability, one question haunts young professionals and mid-career switchers alike:
“Is it still worth it?”
Specifically, **is it still worth pursuing a career in finance in Nigeria—**a country battling record-breaking inflation, currency freefall, layoffs, and reduced foreign investment?
On paper, the outlook looks grim:
- The naira has lost over 60% of its value in the last year.
- Inflation stands at over 33%, according to the National Bureau of Statistics.
- Major banks are restructuring, laying off non-core staff, or delaying graduate training programs.
It’s no surprise that many are abandoning the traditional Nigerian finance dream for tech, relocation, or freelancing.
But here’s the twist: Finance isn’t dead. It’s transforming.
And for those who understand how to adapt, this downturn could actually become the launchpad for a stronger, more dynamic career.
In an ideal world, a career in finance symbolizes prestige, stability, and upward mobility. It’s the kind of career your parents boast about at family gatherings, and one that, traditionally, gave you access to solid pay, professional respect, and a well-defined career path.
But today, in Nigeria’s turbulent economic climate, that golden ticket seems more like a fading myth.
With sky-high inflation (33.95% as of Q2 2024), a free-falling naira, and a job market under immense pressure, even the most resilient sectors like finance are beginning to wobble. Companies are tightening payrolls, restructuring teams, halting graduate intakes, and relying more on automation and outsourcing.
For many aspiring or existing finance professionals—whether based in Lagos, Abuja, or Toronto—the question is no longer, “How do I grow in finance?” but rather, “Is finance still worth it?”
And it’s a fair question.
Especially when:
- Entry-level finance salaries no longer cover basic living costs in urban centers.
- Mid-level professionals are taking side gigs to survive.
- And even major banks are silently trimming “non-core” staff.
The traditional pathway—study finance, join a bank, climb the corporate ladder—has become increasingly uncertain, unstable, and unrewarding for many.
Yet, paradoxically, finance has never been more relevant.
Why Finance Still Matters—Even in a Crisis
Despite the economic meltdown, one thing is undeniable: people still need to manage money.
In fact, in difficult times:
- More individuals seek financial advice.
- Businesses require credit restructuring and risk analysis.
- Governments and institutions need budget strategists, treasury managers, and policy compliance officers.
- Digital platforms demand fintech analysts, fraud managers, and API payment experts.
So, while the face of finance is changing, its core value in society remains intact—perhaps even enhanced.
The Great Career Paradox
This is what makes finance in Nigeria so paradoxical right now:
On one hand, it’s a sector:
- Facing salary stagnation and benefit cuts.
- Where entry-level job ads now attract thousands of applicants overnight.
- With rising layoffs and delayed promotions.
But on the other hand, it’s one of the few fields:
- That offers cross-border mobility (finance qualifications are globally recognized).
- That’s pivoting into technology and innovation.
- Where skilled professionals can leverage remote opportunities or freelance internationally.
This duality—risk vs. reward—is what makes the decision so complicated.
So if you’re wondering whether to:
- Pursue a finance degree in Nigeria,
- Switch into the sector from another field,
- Or even return from the diaspora to join Nigeria’s finance scene…
…you’re not alone.
Thousands are asking the same thing.
And the answer is not a simple yes or no.
This Post Is for You If…
- You’re a young graduate exploring whether finance is still a viable path in 2025.
- You’re a mid-level banker wondering whether to exit or upskill.
- You’re a Nigerian in Canada or the USA thinking about remote finance roles or future investment in Nigeria’s finance ecosystem.
- Or you’re just a realist, curious about how economic headwinds are reshaping this once-glamorous profession.
What follows is not fluff. It’s a carefully researched, brutally honest, and insight-packed breakdown of:
- What’s changing in Nigeria’s finance sector,
- What roles are rising and which are declining,
- What skills employers really value now,
- And whether it still makes sense to bet your future on finance—or find a smarter way to align with it.
What You’ll Walk Away With
By the end of this article, you’ll be able to:
- Decide clearly whether finance fits your goals in this economy.
- Identify high-demand roles that are inflation-resistant and globally relevant.
- Learn how to adapt your finance career to survive local volatility and tap into international opportunities.
- And most importantly, you’ll be empowered to make decisions based on strategy, not fear or nostalgia.
Because while economic downturns may close some doors, they also open new ones for those bold enough to walk through.
So… is it still worth it?
Let’s find out.
Nigeria’s Economic Downturn: What’s Really Going On?
To understand whether finance still holds promise, we must first grasp the landscape.
The Core Issues:
- Currency volatility: The naira’s instability against the dollar is hurting banks and investors.
- High inflation: Eating into real wages, affecting customer borrowing and investment habits.
- Reduced foreign inflow: Multinational institutions are pulling back, stalling expansion plans.
- Job market contraction: Hiring is cautious, with many firms choosing contractors over full-time staff.
As reported by Reuters, Nigeria’s inflation crisis is the highest it has been in 20 years—shaking every sector, including banking and finance.
Traditional Finance Career vs Modern Finance Career Amid Economic Crisis
| Criteria | Traditional Finance Career (Pre-2020) | Modern Finance Career (2024–2025) |
|---|---|---|
| Job Security | High | Moderate to Low |
| Salary Growth | Predictable | Stagnant or inflation-eroded |
| Career Path | Structured (Banking Ladder) | Fluid (Fintech, Freelance, Remote) |
| Skill Requirements | Degree + Basic Excel | Digital, Analytics, Compliance, Tech |
| Work Environment | Physical office | Hybrid/Remote |
| Hiring Preferences | Full-time, formal graduates | Contract-based, value-driven |
| Progression Timeframe | Every 2–3 years | Based on skill and project delivery |
Why Some Still Say YES to a Finance Career in Nigeria
Despite all the noise and negativity, the finance sector continues to attract smart, adaptable professionals. Why?
1. It’s Still a Pillar of the Economy
Finance is essential—people and businesses still need to:
- Save and invest
- Access credit
- Manage risks
- Handle remittances and forex
In tough times, the demand for financial literacy and advisory often increases.
2. Finance Skills Are Borderless
Once you’re trained in finance, you can pivot:
- From Nigerian banking to Canadian credit analysis
- From local investment advising to global remittance consulting
- From CBN-regulated roles to fintech project management abroad
Finance builds globally relevant skills like budgeting, forecasting, and regulatory compliance.
3. Fintech Is Thriving Despite the Crisis
Even while banks are trimming, fintech startups are scaling—especially in mobile money, credit scoring, buy-now-pay-later services, and cross-border payments.
Job roles like:
- Risk & fraud analysts
- Product managers
- Digital banking specialists
- Treasury officers
…are in high demand within the new financial system.
But Let’s Be Honest: There Are Risks
🔻 1. Rising Layoffs and Hiring Freezes
Many banks have stopped onboarding new hires unless absolutely necessary. Internships and graduate programs are postponed.
🔻 2. Stagnant Pay and Eroding Benefits
Inflation-adjusted salaries in finance have dropped significantly. In 2020, a ₦300,000/month job could sustain a mid-level lifestyle. In 2025, it barely covers rent and fuel.
🔻 3. Reputation Doesn’t Equal Stability
Big banks may look stable from the outside, but behind the scenes:
- Bonuses are delayed
- Staff are overworked
- Non-core branches are being downsized
Who Should Consider a Finance Career in This Climate?
It’s not for everyone. But if you are:
Digitally Curious
You want to work with data, apps, automation, and digital financial tools.
Strategic and Flexible
You can pivot from traditional accounting to product management, from core banking to digital payments.
Long-Term Focused
You’re willing to endure temporary stagnation for a career with global portability.
Entrepreneurial
You don’t mind creating your own financial services solution or working freelance as a financial planner, loan consultant, or investment coach.
Skills That Make You Recession-Proof in Finance
Here’s what employers are looking for right now:
- Data literacy (Power BI, Tableau, SQL)
- Regulatory knowledge (KYC/AML, CBN compliance)
- Customer success in digital finance
- Treasury and FX risk management
- Product development for financial platforms
- Business writing and proposal skills
Finance Careers Worth Considering Despite the Crisis
It’s no secret: Nigeria’s economy is facing one of its toughest tests in decades. Inflation is rampant, the naira is volatile, and confidence in traditional financial systems is shaking. Still, amid this turbulence, finance remains one of the most adaptable and resilient career fields—if you know where to look.
Not every finance job is worth chasing right now, but several paths remain lucrative, stable, and globally portable. These roles have shown resilience through economic downturns, digital disruption, and regulatory shifts. Better yet, many are in high demand both locally and internationally, and some offer remote flexibility, even from Nigeria.
Let’s walk through finance careers you should seriously consider in Nigeria—despite the current crisis.
1. Credit Risk Analyst
In a high-inflation environment where loan defaults are rising, credit risk analysts are the unsung heroes. Their job is to assess borrower risk, develop credit scoring models, and advise on loan approvals. As more individuals and businesses seek credit to survive, these roles are becoming mission-critical.
Why it’s worth it:
- High demand in banks, fintechs, and loan apps.
- Globally transferable skills (used in Canada/USA lending systems).
- You can specialize in retail, commercial, or digital credit risk.
Skills Needed:
- Financial modeling
- Risk segmentation
- Data analysis tools (Excel, SQL, Python)
- Understanding of CBN credit guidelines
2. Treasury & FX Management
In Nigeria’s volatile currency market, treasury and foreign exchange officers are becoming invaluable. Their role? Protect the business’s money through currency hedging, liquidity planning, and forex strategy.
Why it’s worth it:
- Naira volatility has made this role even more important.
- Needed in multinationals, import/export firms, and commercial banks.
- Offers high exposure to dollar-denominated transactions, making it a gateway to international finance.
Skills Needed:
- Market forecasting
- FX trading tools
- Treasury platforms like SAP
- Real-time risk analysis
3. Regulatory Compliance & AML/KYC Analyst
As fraud and money laundering risks rise during economic crises, regulators are tightening the noose. Companies must comply with KYC (Know Your Customer), AML (Anti-Money Laundering), and CBN rules—or face huge fines.
That’s why compliance analysts and regulatory officers are being hired aggressively, especially in fintech and digital banks.
Why it’s worth it:
- Evergreen relevance—compliance roles don’t go obsolete.
- Regulatory tech (“RegTech”) is expanding rapidly in Africa.
- Remote-friendly for international compliance outsourcing firms.
Skills Needed:
- AML/CFT policies (FATF, CBN, SEC)
- Familiarity with Sanctions screening and transaction monitoring
- CAMS or other AML certifications (even beginner-level is a plus)
- Attention to detail and report writing
4. Internal Auditor / Fraud Risk Officer
With rising financial stress, companies face growing risks from internal fraud, vendor abuse, and cash leakage. This makes internal auditors and fraud risk managers more critical than ever.
Why it’s worth it:
- Strong demand across banks, microfinance institutions, insurance firms, and NGOs.
- Enables progression into roles like Head of Risk, Chief Compliance Officer, or Forensic Investigator.
- Highly respected function with clear metrics and career growth.
Skills Needed:
- ICAN/ACCA (or in-progress)
- Risk control matrix (RCM) creation
- Audit reporting
- Forensic investigation basics
5. Financial Planning & Advisory
Inflation has left people confused about saving, investing, and budgeting. That’s where financial advisors and planners step in to guide clients—whether individuals or SMEs.
This is one of the few finance careers where you can go independent or freelance, and build a loyal client base, especially in Lagos, Port Harcourt, or Abuja.
Why it’s worth it:
- Growing demand from middle-class professionals and business owners.
- Remote consultation is now widely accepted.
- Possibility of launching a private advisory brand or YouTube channel for added income.
Skills Needed:
- Budgeting tools
- Retirement and insurance planning
- Mutual funds, real estate, and stock market understanding
- Soft skills: trust-building, communication, and confidentiality
6. Product Manager (Fintech)
Want to blend finance and tech? Product managers in fintech oversee development of financial tools—like apps for savings, lending, or payments. This is one of the fastest-growing finance-adjacent roles in Africa.
Why it’s worth it:
- Fintech is scaling, not shrinking.
- In-demand even by global remote-first companies (e.g., Flutterwave, Chipper Cash).
- Excellent crossover into international product roles in Canada/USA.
Skills Needed:
- Agile methodology
- Design thinking and prototyping
- Finance use-case understanding
- Cross-functional team coordination
7. Digital Banking Operations Specialist
More banks are digitizing core operations to cut costs and improve efficiency. That’s opened up new roles in:
- Online account opening
- Core banking systems administration
- Automation of loan disbursement
- Backend payment processing
Why it’s worth it:
- Combines operations and tech—a unique hybrid skillset.
- Less public-facing, more tech-driven.
- Huge demand from neobanks and payment firms.
Skills Needed:
- Core banking platforms (Temenos, Oracle Flexcube)
- API integration basics
- Automation tools (Robotic Process Automation)
- Process optimization
8. Data & Business Intelligence Analyst (Finance-Focused)
Finance is becoming data-intensive. From performance dashboards to customer segmentation, finance firms want professionals who can turn numbers into actionable insights.
Why it’s worth it:
- High demand in insurance, consumer lending, digital wallets, and investment firms.
- Works remotely—many data analysts in Nigeria now consult for US/Canada-based clients.
- Strong path to finance analytics lead or VP of Strategy.
Skills Needed:
- Excel (Advanced), SQL, Power BI, or Tableau
- Data storytelling and visualization
- Finance KPIs: CAC, LTV, default rate, ROI, etc.
- Basic statistics
❌ Finance Roles to Approach with Caution During the Crisis
Not all roles are safe bets. The following careers are either being automated, downsized, or heavily saturated:
- Bank Tellers – Being replaced by ATMs, mobile apps, and self-service kiosks.
- POS Aggregator Sales Agents – High attrition and commission-only models.
- Manual Loan Officers (Field-based) – Replaced by digital credit scoring.
- Back Office Admin Roles – Often the first to go during restructuring.
If you’re in one of these roles, it may be time to upskill or pivot into a more future-proof specialization.
Don’t Abandon Finance—Redefine Your Role Within It
Yes, the Nigerian economy is shaky. Yes, the job market is competitive. And yes, finance isn’t as glamorous as it once was.
But the sector is far from dead.
In fact, it’s growing more specialized, more digital, and more opportunity-rich—especially for professionals who are ready to evolve beyond traditional banking titles.
Whether you want to rise in corporate finance, build a career abroad, or freelance from your living room, there’s still plenty of room in finance for those who bring value, vision, and versatility to the table.
Now more than ever, it’s not just about getting a finance job—it’s about choosing the right finance path.
Insights for Canadians and Americans Exploring Nigeria’s Finance Sector
If you’re in the diaspora wondering whether it’s worth reconnecting with Nigeria’s finance industry, here’s the outlook:
Why It Might Be Worth It:
- Remote advisory roles in compliance, remittances, and strategy
- Collaborations with Nigerian fintechs expanding abroad
- Launching diaspora-backed microfinance or digital credit platforms
Risks to Watch:
- Fake job offers promising USD salaries
- Weak labor protections
- Currency fluctuations that affect investment returns
Always verify employer licensing via CBN, demand formal contracts, and consider roles that allow you to work remotely and flexibly.
Should You Still Study Finance or Switch Fields?
If you’re currently in school or considering a switch:
Stay in Finance If:
- You supplement it with tech, analytics, or project management
- You’re interested in entrepreneurship or consulting
- You aim for global certifications (CFA, ACCA, CPA)
Consider Switching If:
- You struggle with adapting to digital tools
- You prefer creative or people-heavy roles
- You’re not ready for inconsistent job cycles or freelance work
Final Thoughts: Finance in Crisis is Finance in Transition
So, is it worth pursuing a career in finance during Nigeria’s economic downturn?
✅ Yes—if you evolve with it.
❌ No—if you expect the old stability to return.
The finance industry in Nigeria is not dying. It’s shedding its old skin and becoming faster, leaner, more digital, and value-oriented.
The rewards are still there—but they now belong to:
- The data-savvy over the certificate-heavy
- The adaptable over the entitled
- The strategic over the traditional
If you’re bold enough to learn, smart enough to pivot, and patient enough to endure—then yes, it’s absolutely worth it.
FAQs
1. Is finance still a safe career path in Nigeria?
It depends. Traditional banking is less safe now, but fintech, treasury, compliance, and analytics are still highly secure.
2. Should I study finance in Nigeria in 2025?
Yes—but pair it with global certifications and digital skills.
3. Are there remote finance jobs in Nigeria?
Yes. Fintechs and startups are hiring remote staff in risk analysis, compliance, and product roles.
4. What’s the biggest risk of entering finance now?
Stagnant pay and unstable hiring practices. Choose regulated employers and upskill constantly.
5. Can I build a global career in finance from Nigeria?
Absolutely. With the right mix of certifications, experience, and online visibility, finance is one of the most portable careers globally.
