The Securities and Exchange Commission (SEC) of Nigeria is considering a gradual implementation of global sustainability disclosure standards. Dr. Emomotimi Agama, the SEC’s Director General, announced this at an investors’ roundtable on the International Sustainability Standards Board (ISSB). The ISSB standards, developed by the International Organisation of Securities Commissions (IOSCO), aim to provide a global baseline for sustainability disclosures. Nigeria’s participation in the task force that created these standards demonstrates its commitment to the four pillars on which they are built.
According to Dr. Agama, Nigeria is vulnerable to climate change because of its vast natural resources and growing population, yet it is simultaneously pursuing an ambitious sustainable‑finance agenda. Adopting the ISSB framework is expected to make the Nigerian capital market more attractive to international investors. However, the SEC will not simply adopt the standards without tailoring them to the local market. Instead, the Commission will focus on capacity building, phased implementation, an assurance framework, and alignment with local realities. This approach will ensure that the global baseline is applied in a way that is appropriate and proportional for Nigeria while maintaining the core goal of global comparability.
The adoption of the ISSB standards is expected to bring several benefits, including enhanced transparency, better governance, and improved management of long‑term risk. It will also provide a common language for sustainability disclosures, facilitating global comparability and investor trust. Dr. Agama reaffirmed the Commission’s commitment to working with stakeholders domestically and across the IOSCO network to implement the standards effectively.
Implementing the ISSB standards is a significant step toward building a more stable, transparent, and sustainable financial future for Nigeria and the world. By adopting these standards, the SEC signals its dedication to transparency, governance, and managing systemic risk. The Commission’s approach is expected to contribute to the growth and development of the Nigerian capital market while supporting the global effort to achieve a sustainable economy.
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