JUST IN: SEC to roll out phased adoption of global sustainability standards in Nigeria

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The Securities and Exchange Commission (SEC) has unveiled plans to implement the sustainability disclosure standards of the International Sustainability Standards Board (ISSB) in phases, under the guidance of the International Organisation of Securities Commissions (IOSCO).

SEC’s Director General, Dr. Emomotimi Agama, disclosed this during an investors’ roundtable on ISSB held over the weekend. He emphasised that Nigeria, having contributed to the development of the standards, is committed to supporting the four core pillars on which they are anchored.

Agama noted that the country’s exposure to climate change and its ambitious sustainable finance drive make embracing global sustainability disclosures an urgent necessity. However, he stressed that the rollout would be adapted to local realities

“This means capacity building—working with issuers, auditors, and preparers to ensure readiness; phased implementation—starting with larger listed entities before extending to others; assurance framework—building credible systems for verification of disclosures; and alignment with local realities while maintaining global comparability,” he explained.

He further stated that the phased implementation would strengthen investor confidence and make Nigeria’s capital market more attractive.

“Embracing this global baseline signals to international investors that we are serious about transparency, governance, and long-term risk management. The ISSB has provided the common language for sustainability disclosures, and we at SEC Nigeria have answered that call,” Agama said.

The SEC boss reaffirmed the Commission’s willingness to work with both domestic stakeholders and international partners within IOSCO to guarantee smooth execution.

“The global perspective is one of unity and decisive action. By adopting the ISSB standards, we are not just following a trend; we are building a more stable, transparent, and sustainable financial future for Nigeria, Africa, and the world,” he declared.

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