The Securities and Exchange Commission (SEC) is considering a phased implementation of the global sustainability disclosure standards developed by the International Organisation of Securities Commissions (IOSCO).
The Commission’s Director General, Dr. Emomotimi Agama, disclosed this at the weekend during an investors’ roundtable on the International Sustainability Standards Board (ISSB).
Agama noted that Nigeria, which actively participated in the taskforce that developed the standards, remains committed to the four guiding pillars of the framework.
“Given Nigeria’s vast natural resources and growing population, we are particularly vulnerable to climate change while pursuing an ambitious sustainable finance agenda,” he said.
While commending the ISSB framework, Agama emphasised that Nigeria would avoid a “copy and paste” approach, instead opting for a tailored adoption strategy. This will include:
- Capacity building across the market.
- Phased rollout starting with larger listed companies.
- Establishment of a robust assurance framework for disclosure verification.
- Alignment of global standards with local realities.
“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,” Agama added.
