Association of Financial Analysts of Nigeria (AFAn)
The Association of Financial Analysts of Nigeria (AFAn) is more than a professional body—it is a movement dedicated to the advancement of financial analysis across West Africa. Our history, leadership, and unwavering commitment to quality and integrity define who we are and what we stand for.
Our Governance
At the heart of AFAn is a dedicated council that provides strategic oversight and ensures that our activities align with our mission and values. The current council includes:
This team of seasoned professionals and industry experts works tirelessly to shape the policies, programs, and initiatives that drive our organization forward.
Our Core Values
AFAn’s core values form the bedrock of everything we do:
- Excellence: We strive for the highest standards in education, certification, and professional practice.
- Integrity: Our commitment to ethical conduct and transparency guides every decision we make.
- Innovation: We continuously explore new ideas and technologies to enhance the value we provide to our members.
- Collaboration: We foster a culture of teamwork, ensuring that our members and partners work together to achieve common goals.
- Accountability: We hold ourselves responsible for maintaining the highest professional standards and ensuring the credibility of the financial analysis profession.
Our History
AFAn was established with a bold vision: to create a cadre of professionals equipped to meet the complex demands of modern finance and investment decision-making. As the pioneering institution in financial analysis in Nigeria, our journey began with the passion and foresight of our founder, Dr. Abdullahi Ya’u. With an illustrious career and a clear understanding of the challenges and opportunities in the financial landscape, Dr. Ya’u laid the groundwork for a professional body that would champion rigorous education, ethical standards, and continuous development.
Over the years, AFAn has evolved and expanded its influence. Each phase of our history is marked by visionary leadership:
Our Impact and Reach
With a membership exceeding 6,000 professionals across Nigeria, AFAn’s impact is far-reaching. Our members work in diverse sectors—from banking and investment to corporate finance and government—making significant contributions to the nation’s economic growth. By providing top-tier training, certification, and continuous professional development, we are proud to be a catalyst for change and progress in the financial sector.
Looking Ahead
As we navigate the complexities of a rapidly evolving financial landscape, AFAn remains committed to staying ahead of the curve. Our strategic initiatives for the future include:
- Expanding Membership: Reaching out to new markets and industries to further elevate the profession.
- Enhancing Certification Programs: Continually refining our certification process to reflect the latest industry practices and global standards.
- Strengthening Partnerships: Collaborating with local and international organizations to enrich our educational and professional offerings.
- Embracing Technology: Leveraging digital platforms to provide more accessible and flexible learning options for our members.
- Promoting Research: Investing in research initiatives that contribute to the body of knowledge in financial analysis and influence policy-making.
At AFAn, we believe that our success is measured not just by the credentials we award but by the positive impact we have on our members, our industry, and our nation. We invite you to learn more about our history, our leadership, and our commitment to excellence as you explore the rest of our website.
State Branches & Regional Operations
AFAn’s influence and commitment to excellence extend far beyond our national headquarters. In order to effectively promote professional financial analysis, advocacy, and capacity-building throughout Nigeria, we have established Branch Secretariats in all 36 states. These state branches serve as vital extensions of our national body, implementing AFAn’s strategic objectives and engaging local stakeholders to foster a vibrant community of financial analysts.
Structured Framework for Branch Operations
Each state branch operates under a comprehensive Branch Operations Policy that sets out the framework for governance, administration, and revenue-sharing. This policy ensures that every branch upholds the same high standards as our national headquarters, promoting transparency, accountability, and professional excellence.
Governance & Management Structure
Every AFAn State Branch is managed by an Executive Committee (EXCO) that reports directly to the Registrar at AFAn HQ. The EXCO typically comprises:
- Branch Chair: Provides overall leadership and strategic coordination.
- Branch General Secretary: Oversees daily administration, finance, and operations.
- Branch Advocacy & Publicity Officer: Manages local advocacy efforts, public relations, and stakeholder engagement.
- Branch SFA/SFP Coordinator: Oversees the Student Financial Analysts & Planners Programme in universities and polytechnics.
- Branch Financial Advisor: Offers financial advisory services, ensuring that all practices align with AFAn’s regulations.
In cases where a state lacks a Branch Chair, the most proximate state EXCO takes charge, ensuring seamless governance and administration.
Key Functions & Responsibilities
AFAn state branches are tasked with:
- Implementing AFAn’s national strategies at the state level.
- Promoting professional membership growth and serving as the first point of contact for prospective and existing members.
- Organizing state-level trainings, workshops, and events to keep members abreast of industry trends.
- Engaging with key stakeholders, including government bodies, financial institutions, and academic institutions.
- Coordinating the Students Financial Analysts & Planners Programme to nurture emerging talent.
- Upholding the AFAn Code of Ethics and ensuring adherence to national regulatory standards.
Revenue Structure & Financial Management
Branches generate revenue through membership dues, training programs, stakeholder engagements, and certification activities. The revenue-sharing model is designed to reward local initiatives while maintaining strong oversight by the national body:
- HQ-Initiated Revenue: 20% is retained by the branch, while 80% is directed to HQ.
- Branch-Initiated Revenue: 40% is retained by the branch, and 60% is allocated to HQ.
Strict financial reporting is maintained via monthly submissions and standardized accounting systems. This structure ensures transparency and enables prompt corrective measures in cases of non-compliance.
Regular Reporting & Compliance
State branches conduct monthly executive meetings to review operations, membership updates, and financial performance. Each Branch Chair submits quarterly reports to AFAn HQ, with annual reports reviewed at the National Council Meeting. These measures reinforce our commitment to accountability and excellence across all levels of operation.
A Commitment to Continuous Improvement
Effective from 3rd March 2025, our Branch Operations Policy is continually monitored and refined by the AFAn Council. This ongoing process ensures that each branch remains aligned with our national objectives while effectively responding to local needs.
