SEC to Begin Gradual Implementation of ISSB Standards
By NaijaEnquirer Staff
The Securities and Exchange Commission (SEC) has announced plans to gradually implement the International Sustainability Standards Board (ISSB) global disclosure standards, in line with Nigeria’s sustainable finance agenda.
Speaking at an investors’ roundtable on ISSB over the weekend, SEC’s Director General, Dr. Emomotimi Agama, said the adoption process will be tailored to Nigeria’s realities while maintaining global comparability.
A Tailored Approach
Agama explained that Nigeria would not “copy and paste” the standards but will adopt a phased and practical strategy. This includes:
- Capacity building – engaging issuers, auditors, and preparers to prepare them for compliance.
- Phased implementation – beginning with larger listed entities before extending to others.
- Assurance framework – establishing credible verification systems for disclosures.
- Local alignment – adapting the global baseline to Nigeria’s market realities while ensuring international comparability.
Boosting Investor Confidence
He stressed that adopting the ISSB standards will strengthen investor trust, reduce systemic risk, and enhance the attractiveness of the Nigerian capital market.
“Embracing this global baseline signals to international investors that we are serious about transparency, governance, and managing long-term risk. It is no longer a question of if, but how and when,” Agama stated.
Global Unity, Local Action
Agama highlighted that Nigeria’s participation in the ISSB taskforce reflects its commitment to the four key pillars of sustainability reporting. He added that SEC will work closely with stakeholders at home and across the IOSCO network to ensure effective implementation.
“By adopting ISSB standards, we are not just complying with a global trend; we are actively building a stable, transparent, and sustainable financial future for Nigeria, for Africa, and for the world,” he said.
