The Securities and Exchange Commission (SEC) has stated that the adoption of the International Sustainability Standards Board (ISSB) disclosure framework will strengthen Nigeria’s capital markets by reducing information risk, lowering the cost of capital for issuers, and boosting investor confidence.
SEC Director-General, Emomotimi Agama, made this known on the sidelines of a panel session on the IFRS S1 and S2 standards. He explained that the Commission is committed to positioning Nigeria’s capital market in line with the global baseline established by the ISSB, which operates under the International Financial Reporting Standards (IFRS) Foundation.
According to Agama, aligning with the ISSB standards is key to attracting international capital flows, particularly from global institutional investors and development finance institutions (DFIs).
“As a member of the International Organization of Securities Commissions (IOSCO), the SEC has been actively engaged in international policy discussions,” he noted. “We are also part of the ISSB Standards Adoption Readiness Work Group (ARWG), which developed Nigeria’s roadmap for implementation.”
The Commission said it believes that adopting these standards will provide greater transparency, deepen trust in Nigerian securities, and enhance the country’s standing in the global financial system.
