Caption: From left, Group Managing Director Nigerian Exchange Group, Temi Popoola; full-time member of the International Sustainability Standards Board (ISSB), Dr. Ndidi Nnoli-Edozien; Director General Securities and Exchange Commission (SEC), Dr. Emomotimi Agama; Richard Barker, member of the ISSB; and CEO NGX, Jude chiemeka during the ISSB Preparer
The Director General of the Securities and Exchange Commission (SEC Nigeria), Dr. Emomotimi Agama, at the weekend announced plans for a gradual implementation of the global sustainability disclosure standards developed by the International Organisation of Securities Commissions (IOSCO).
Addressing an investors’ roundtable on tISSB in Abuja, assured that the country would adopt a carefully tailored approach, and not merely “copy and paste” the standards having participated in the taskforce that developed them.
The commission, he added, would continue to support the four pillars on which they were built, admitting that based on its vast natural resources and growing population Nigeria “is particularly vulnerable to climate change and is simultaneously pursuing an ambitious sustainable finance agenda.”
This, Agama explained, “means: capacity building—working with issuers, auditors, and preparers to ensure they understand and are ready for the new requirements; phased implementation—considering a graduated approach, perhaps beginning with larger, listed entities before expanding to others; assurance framework—developing a robust system for the verification of disclosures to guarantee their credibility; and alignment with local realities—ensuring the global baseline is applied in a way that is appropriate and proportional for our market, while maintaining the core goal of global comparability.”
Agama said the Commission opted for this method “because we believe that 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. It has transformed the ISSB from a promising new initiative into the definitive global framework for sustainability disclosures.”
According to him, “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. The journey to a sustainable global economy requires a common language. The ISSB has provided that lexicon. IOSCO has called us to speak about it. At SEC Nigeria, we have answered that call.”
He reaffirmed the Commission’s commitment to working with stakeholders domestically and across the IOSCO network to implement the standards effectively.
“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 said.
