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By Chukwuma Umeorah
The Securities and Exchange Commission (SEC) is considering a gradual implementation of the global sustainability disclosure standards developed by the International Organisation of Securities Commissions (IOSCO), the Commission’s Director General, Dr. Emomotimi Agama, stated at the weekend.
Speaking at an investors’ roundtable on the International Sustainability Standards Board (ISSB), Agama noted that Nigeria, which participated in the taskforce that developed the standards, remains committed to the four pillars guiding 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 praising the ISSB framework, Agama stressed that Nigeria would adopt a tailored approach rather than a “copy and paste” method. The strategy will focus on capacity building, phased implementation starting with larger listed companies, establishing a robust assurance framework for disclosure verification, and aligning the 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 said.
He emphasized that adoption of the ISSB standards is now a matter of “how and when,” not “if,” noting the framework offers a common language for a sustainable global economy. “The ISSB has provided that lexicon. IOSCO has called us to speak about it. At SEC Nigeria, we have answered that call,” he said.
Agama reaffirmed the Commission’s commitment to collaborating with stakeholders both domestically and across the IOSCO network to ensure effective implementation.
“By adopting the ISSB standards, we are not just following a global trend; we are actively building a more stable, transparent, and sustainable financial future for Nigeria, for Africa, and for the world,” he concluded.
