The CFA Exam and the Devaluation of the Naira; A Chaterholder's Perspective
"There is no better time than now to exhibit the knowledge gained from the CFA programme"
We had an interview with the Head, Financial Institutions Ratings at Agusto & Co, Ayokunle Olubunmi, CFA, ACCA. He shared with us his views on the current devaluation of the Naria, the likely impact on the cost of the CFA Exams and possible solutions for the Nigerian candidate.
Share your thoughts on what the effects of the Devaluation of the Naira are on the Nigerian CFA Candidate
The naira devaluation has increased the cost implication of the CFA examination. Unfortunately, the prevailing macroeconomic downturn is negatively impacting the customer purchasing power
Seeing the increase in the price of earning the CFA Charter as a result of the devaluation, should we expect a reduction in interest and participation from Nigeria?
Although I expect a decline in the number of candidates, I believe the interest in the Charter will remain high given the bundle of knowledge in the programme
Could you share viable solutions for the Nigerian Candidate?
Nigerian candidates should not be deterred by the rising cost of the examination. Always bear in mind that the ultimate benefits will out way the cost. Candidates should checkout available scholarship to moderate the impact of the devaluation.
With the current economic situation in Nigeria, what role(s) does the CFA Charterholder play in the narrative?
There is no better time than now to exhibit the knowledge gained from the CFA programme. Charterholders should endeavour to actively contribute to discussions on how their organisations can navigate the prevailing macroeconomic headwinds.