The Securities and Exchange Commission has announced plans to adopt the global sustainability disclosure standards developed by the International Organisation of Securities Commissions.
The Director-General of SEC, Dr. Emomotimi Agama, disclosed this at an investors’ roundtable on the International Sustainability Standards Board, held over the weekend.
Agama explained that Nigeria, having participated in the task force that developed the standards, would adopt a phased approach to implementation rather than a blanket adoption.
“This means capacity building, working with issuers, auditors, and preparers to ensure they understand and are ready for the new requirements; phased implementation, perhaps beginning with larger, listed entities before expanding to others; and developing a robust assurance framework to verify disclosures,” he said.
According to him, Nigeria’s adoption of the ISSB standards is aimed at boosting transparency, investor confidence, and the attractiveness of the capital market.
“The case for adoption is clear: for global comparability, for investor trust, for managing systemic risk, and for reducing complexity. This is no longer a question of if, but of how and when,” Agama said.
He reaffirmed the SEC’s commitment to working with stakeholders within Nigeria and across IOSCO’s network to implement the standards effectively.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: [email protected]
