Impact Investors Foundation (IIF), in partnership with the Global Steering Group for Impact Investment (GSG) and the Financial Reporting Council of Nigeria (FRC), is taking strides to enhance the capacity of over 100 Micro, Small, and Medium Enterprises (MSMEs), financial professionals, and sustainability experts across the public and private sectors.
The focus is on preparing them to adopt the International Sustainability Standards Board’s (ISSB) International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards.
This collaborative effort is designed to empower Nigerian businesses for the upcoming implementation of the IFRS Sustainability Disclosure Standards. The objective is to establish a universal baseline for consistent financial reporting, thereby facilitating well-informed decision-making among investors.
Workshops conducted in Abuja and Lagos, supported by the Foreign, Commonwealth & Development Office (FCDO), brought together participants from diverse sectors, including listed and large corporates, SMEs, Enterprise Support Organizations, investors, chambers of commerce, policymakers, financial regulators, accounting professionals, and academia.
During the workshops, discussions and presentations focused on impact transparency and measurement, emphasizing their importance in positioning Nigeria to benefit from impact investment and attracting increased capital flow to the nation.
Mrs. Ibukun Awosika the Chairperson for Nigeria National Advisory Board for Impact Investing (NABII), in a statement to the media stressed the significance of these conversations in driving Nigeria’s participation in impact investment and capital mobilization. This collaborative initiative reflects a commitment to aligning Nigerian businesses with international sustainability reporting standards, contributing to the nation’s broader goals of attracting impact investments and fostering economic growth through responsible and transparent business practices.
