The Securities and Exchange Commission (SEC) is considering a gradual implementation of the global sustainability disclosure standards developed by the International Organisation of Securities Commissions (IOSCO).
According to SEC Director-General Dr. Emomotimi Agama, the Commission will adopt a carefully tailored approach to implementing the International Sustainability Standards Board (ISSB) framework.
Agama explained that Nigeria will focus on capacity building, working with issuers, auditors, and preparers to ensure they understand and are ready for the new requirements.
The Commission will also consider a phased implementation, beginning with larger, listed entities before expanding to others. A robust assurance framework will be developed to guarantee the credibility of disclosures.
The SEC will ensure that the global baseline is applied in a way that is appropriate and proportional for the Nigerian market, while maintaining the core goal of global comparability.
Agama emphasized that adopting the ISSB standards will enhance the attractiveness of the Nigerian capital market, signaling to international investors that the country is serious about transparency, governance, and managing long-term risk.
The SEC Director-General reaffirmed the Commission’s commitment to working with stakeholders domestically and across the IOSCO network to implement the standards effectively.
He emphasised that adopting the ISSB standards is not just about complying with a global trend, but about building a more stable, transparent, and sustainable financial future for Nigeria, Africa, and the world.
Agama highlighted the importance of adopting the ISSB standards, citing the need for global comparability, investor trust, managing systemic risk, and reducing complexity.
He noted that the journey to a sustainable global economy requires a common language, which the ISSB has provided.
SEC’s commitment to implementing the standards is a step towards achieving this goal.
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