Finance plays a crucial role in any society, influencing how we as individuals or people in government make decisions. Whether you’re a student considering a career in finance, a job seeker searching for remote finance jobs, or an entrepreneur interested in the finance sector, it is important to understand what finance is, the role it plays, and the opportunities available in the finance sector.
In this blog post, you’ll learn what finance means, explore career opportunities, discover where to find finance news, and understand key performance indicators in finance.
What Is Finance? (Finance Definition)
Finance refers to how money and other financial investments are managed. When you save, budget, borrow, lend, or forecast financial outcomes, you are engaging in an activity related to finance. There are three categories of finance:
- Personal finance
- Corporate finance
- Public finance
For example, when the Finance Minister of Nigeria announces a new budget or subsidy, that is part of public finance. When a startup tracks revenue and spending to remain profitable, that is corporate finance in action.
If the Finance Minister of Nigeria announces a new budget or makes any decisions regarding the country’s finances, that is public finance. When a company makes financial decisions, that is corporate finance, and when you, as an individual, make financial decisions, that is personal finance.
Careers in Finance: From Analyst to Officer
There are many in-demand jobs available for finance professionals in Nigeria, whether in traditional banks, government agencies, or tech startups. Here are some of the careers:
Finance Analyst
In this role, you’ll evaluate financial data, prepare reports, and make investment recommendations. This role is critical for businesses to forecast financial outcomes.
Finance Officer
As a finance officer, you will monitor budgets and expenditures. You’ll ensure that there is compliance with financial regulations.
Finance Specialist
As a finance specialist, you’ll focus on a particular aspect of finance, whether tax, compliance, or budgeting. Your role will be to offer insights into any finance niche.
Finance Support
If you are a finance support professional, you’ll assist with administrative and accounting duties. You’ll keep records, manage payroll, and ensure that there are smooth financial operations.
Getting Started: Finance School and Education
You can become a finance professional in two ways:
The first way is that you have to enroll in a reputable higher institution that offers finance programs.
The second way is for you to take courses and certifications in recognized platforms like
- Institute of Chartered Accountants of Nigeria (ICAN)
- Chartered Financial Analyst (CFA)
- Udemy, Coursera, or LinkedIn Learning
By obtaining recognized certifications from reputable platforms and institutions, you’ll be employable in relevant organizations.
Finance and the Law: What You Should Know
Finance laws are those regulations and legal practices that govern financial transactions. These are laws that apply to lending, taxation, and financial investments.
If you are running a business or working in a business as a finance executive, it is very important to know these laws. When these laws are not obeyed, it can lead to payment of hefty fines and jail terms. In Nigeria, you must familiarize yourself with the Central Bank of Nigeria Act, the Finance Act 2021, and the Anti-Money Laundering laws
Leasing, Loans, and Financial Products
A finance lease is a way of acquiring assets and paying for them in full later on. This is a financial practice businesses use to acquire many of their assets.
Many SMEs and even big businesses liaise with organizations that can sell assets to them and pay upfront
Staying Updated: Finance Newsletter and News
To stay updated about finance, you should subscribe to at least one finance newsletter, which will help you keep up with market trends.
Popular finance news platforms for Nigerians include:
- Nairametrics
- BusinessDay Nigeria
- Punch Finance News
- The Guardian Business
Make it a habit to subscribe to at least one finance newsletter to stay ahead, especially if you’re a trader, business owner, or aspiring investor.
Why Finance Matters in Nigeria’s Development
Nigeria, as a country, heavily relies on strong financial operations to thrive. The importance of finance professionals cannot be underestimated.
Major issues like inflation, unemployment, and attracting foreign investors can be tackled when the right financial regulations are in place in the country.
Conclusion
Finance is a very important aspect of our lives; it is a tool that helps us succeed in our personal lives, business, and as a country. If you want to become a finance professional, there are many roles available for you.
To be a finance professional or to just be financially literate, start by subscribing to finance newsletters to stay updated on trends before moving on to take professional courses in finance.
Read also: 5 Must-Have Apps for Nigerian Students in University (2025 Guide)