Credit Risk Manager salary in Nigeria

Average Yearly Salary of Credit Risk Manager in Nigeria is approximately 8,617,198 NGN (10,349 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Credit Risk Manager do?

A credit risk manager is responsible for assessing and managing the potential risks associated with lending money or extending credit to individuals or businesses. They analyze financial data, evaluate creditworthiness, and make recommendations on loan approvals or credit limits. These professionals work closely with other departments, such as underwriting and collections, to ensure effective risk mitigation strategies are in place. They also monitor and review existing credit portfolios, identifying any potential issues or trends that may impact the organization's overall credit risk exposure. Additionally, credit risk managers stay up-to-date on industry regulations and best practices to ensure compliance and reduce the likelihood of financial losses.

Skills: credit risk management, financial analysis, risk assessment, loan underwriting, credit portfolio management, regulatory compliance.
Job industry: Finance

How much does Credit Risk Manager make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Credit Risk Manager a well paid job?

Yes, our data show that Credit Risk Manager is a very well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Credit Risk Manager?

High salary for Credit Risk Manager would be somewhere between 9,478,918 NGN and 12,494,937 NGN. However this is an estimation based on Gaussian Distribution.

How much can you save working as Credit Risk Manager in Nigeria?

Living in Nigeria the approximate monthly expenses are: 206 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 8,617,198 NGN
Estimated Monthly Salary: 718,100 NGN
Estimated Weekly Salary: 165,715 NGN per week
Estimated Hourly Salary: 4,143 NGN per hour
By working as Credit Risk Manager a person can save up to 657 USD per month or 7,882 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Nigeria, see costs of living in Nigeria.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Niger, Chad, Cameroon, Benin.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Credit Risk Manager

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

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Data as of 2025

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