By Obas Esiedesa, Abuja
The Securities and Exchange Commission (SEC) has announced plans to adopt a phased implementation of the sustainability disclosure standards developed by the International Sustainability Standards Board (ISSB), under the guidance of the International Organisation of Securities Commissions (IOSCO).
SEC’s Director General, Dr. Emomotimi Agama, made this known at an investors’ roundtable on ISSB over the weekend. He explained that Nigeria, having contributed to the development of the standards, would continue to support the four key pillars on which they are built.
Agama noted that Nigeria’s vulnerability to climate change, coupled with its ambitious sustainable finance agenda, makes it imperative for the country to embrace global sustainability disclosures.
However, he stressed that the adoption would not be a “copy and paste” exercise, but a tailored approach aligned with 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 said.
He added that the phased adoption would boost investor confidence and enhance the attractiveness of Nigeria’s capital market.
“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 stated.
He reaffirmed the Commission’s readiness to collaborate with both domestic stakeholders and international partners within IOSCO to ensure effective implementation.
“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 said.
The post SEC to implement ISSB sustainability standards in phases appeared first on Vanguard News.
