Caption: Participants at the 50th Annual Meeting of the International Organization of Securities Commissions (IOSCO), a three-day event hosted by Qatar Financial Markets Authority (QFMA), which began on Monday, May 12, 2025.
In recognition of the increasing demand for reliable sustainability reporting, Nigeria’s Securities and Exchange Commission says it is partnering peers across other jurisdictions on the Growth and Emerging Markets Committee Network on sustainability.
The Network was created to support the effective adoption and other use of the International Sustainability Standards Board (ISSB) Standards across growth and emerging markets.
By joining this network, the commission said jurisdictions can enhance their access to suitable capacity building on supervisory and enforcement aspects of the ISSB Standards, advance their understanding on the relevant resources by the IFRS Foundation to support regulators, including the Jurisdictional Guide, Roadmap Development Tool and educational materials can support adoption, and to help assess market readiness. Through the Network, GEMC members will receive support in building local capacity to implement the requirements of the Standards.
The Network also serves as a platform for advancing information sharing on a global and regional level, enabling members to exchange experiences and best practices as they implement the ISSB Standards.
Speaking on the sidelines of the IOSCO Annual Meeting in Doha, Qatar, Director-General of SEC Nigeria, Dr. Emomotimi Agama said the GEMC plays a crucial role in promoting sustainable and resilient capital markets in emerging economies.
Nigeria’s membership of the GEMC, he believes, would be a significant step towards aligning the country’s capital markets with global sustainability standards.
He said it would enhance Nigeria’s credibility in the global capital markets, attracting foreign investors and promoting economic growth, stressing that “GEMC’s focus on sustainability would help Nigeria’s capital markets contribute to the country’s sustainable development goals, such as reducing carbon emissions and promoting environmental protection.
“Membership would provide Nigeria’s securities regulator with access to best practices and guidance on sustainable finance, enabling the development of a more effective regulatory framework.
“GEMC membership would also offer opportunities for capacity building and knowledge sharing, enhancing the skills and expertise of Nigeria’s securities regulator and market participants,” he stressed.
According to Agama, Nigeria’s membership in GEMC and IOSCO would be a significant step towards promoting sustainable and resilient capital markets, enhancing credibility, and contributing to the country’s sustainable development goals and also provide opportunities for capacity building, knowledge sharing, and international cooperation, ultimately benefiting Nigeria’s economy and investors.
Agama said IOSCO sets global standards for securities regulation, and membership would enable Nigeria to contribute to the development of IOSCO standards, besides facilitating “international cooperation and information sharing, helping Nigeria’s securities regulator to stay abreast of global best practices.
