The Securities and Exchange Commission (SEC) has revealed plans to adopt the International Sustainability Standards Board (ISSB) disclosure framework through a gradual and carefully tailored implementation process.
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Director General of the SEC, Dr. Emomotimi Agama, who made this known at an investors’ roundtable on the ISSB over the weekend, said the Commission’s strategy is designed to balance Nigeria’s sustainability agenda with the realities of its capital market.
Agama explained that while Nigeria was part of the taskforce that developed the ISSB standards under the International Organisation of Securities Commissions (IOSCO), the country would not merely “copy and paste” the global framework; instead, it would apply the standards in a phased manner that reflects domestic capacity and market needs.
“This means capacity building, working with issuers, auditors, and preparers to ensure they understand and are ready for the new requirements; phased implementation, beginning with larger, listed entities before expanding to others; assurance framework -developing a robust system for verifying disclosures; and alignment with local realities, ensuring the global baseline is applied in a way that is appropriate and proportional for our market,” he stated.
According to him, Nigeria’s adoption of the ISSB rules is not just about compliance but about strengthening the country’s long-term economic competitiveness.
“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,” he said.
The SEC boss emphasised that the adoption of the ISSB standards is now a matter of timing and method, not possibility.
He described the ISSB as “the definitive global framework for sustainability disclosures,” providing a common language for sustainable finance.
“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 noted.
He reaffirmed the Commission’s commitment to working closely with domestic stakeholders and international partners within the IOSCO network to ensure effective adoption.
“The global perspective is one of unity and decisive action. By adopting the ISSB standards, we are not just complying with a global trend; we are actively building a more stable, transparent, and sustainable financial future for Nigeria, for Africa, and for the world,” he added.
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