The Securities and Exchange Commission (SEC) has said it will gradually implement the global sustainability disclosure standards.
The standards were developed by the International Organisation of Securities Commissions (IOSCO) for its members.
SEC’s Director General, Dr. Emomotimi Agama, announced this at the weekend in Abuja during an investors’ roundtable on the International Sustainability Standards Board (ISSB).
He explained that Nigeria, which actively participated in the development of the standards, would adopt a strategic approach to ensure successful implementation.
“Nigeria, with its vast natural resources and growing population, is particularly vulnerable to climate change and is simultaneously pursuing an ambitious sustainable finance agenda,” Agama said.
The SEC DG lauded the ISSB framework, saying Nigeria would not adopt a wholesale approach but apply the standards in a manner suitable to the local environment.
“This means capacity building — working with issuers, auditors, and preparers to ensure they understand and are ready for the new requirements; phased implementation — considering a graduated approach, perhaps beginning with larger, listed entities before expanding to others; assurance framework — developing a robust system for the verification of disclosures to guarantee their credibility; and alignment with local realities — ensuring the global baseline is applied in a way that is appropriate and proportional for our market, while maintaining the core goal of global comparability,” he said.
According to him, adopting the standards will make Nigeria’s capital market more attractive to investors.
Agama said this would be achieved by reinforcing transparency, accountability, and long-term risk management.
He added: “We believe that embracing this global baseline will enhance the attractiveness of the Nigerian capital market. It signals to international investors that we are serious about transparency, governance, and managing long-term risk. It has transformed the ISSB from a promising new initiative into the definitive global framework for sustainability disclosures.”
The SEC DG maintained that the adoption of the ISSB standards would boost investor confidence and align Nigeria with international best practices.
“The case for adoption is clear: for global comparability, for investor trust, for managing systemic risk, and for reducing complexity. This is no longer a question of if, but of how and when.
“The journey to a sustainable global economy requires a common language. The ISSB has provided that lexicon. IOSCO has called us to speak about it. At SEC Nigeria, we have answered that call,” he said.
Agama assured stakeholders that the commission would continue to collaborate locally and internationally to ensure effective application of the standards.
“The global perspective is one of unity and decisive action. By adopting the ISSB standards, we are not just complying with a global trend; we are actively building a more stable, transparent, and sustainable financial future for Nigeria, for Africa, and for the world,” he added.
