Nigeria SEC to Gradually Adopt ISSB Sustainability Standards to Boost Transparency and Investor Confidence

Nigeria’s Securities and Exchange Commission (SEC) has announced plans to phase in the International Sustainability Standards Board (ISSB) disclosure framework. The move, revealed by SEC Director General Dr. Emomotimi Agama at an investors’ roundtable over the weekend, signals Nigeria’s intention to align its capital market with global sustainability and transparency standards.

According to Agama, Nigeria actively participated in developing the ISSB standards under the International Organisation of Securities Commissions (IOSCO) and remains committed to the framework’s four guiding pillars. He noted that with its vast natural resources and rapidly growing population, the country faces unique climate risks that make a credible sustainable finance agenda even more urgent.

Rather than a “copy and paste” approach, the SEC will introduce the ISSB standards in stages. The rollout will begin with larger listed companies while focusing on capacity building, establishing a robust verification framework for disclosures, and adapting the global standards to Nigeria’s local realities. This phased model is designed to ensure companies and regulators can handle the new requirements effectively.

Agama stressed that embracing the ISSB framework will improve the attractiveness of Nigeria’s capital market to international investors. By signaling stronger transparency, better governance, and proactive risk management, the standards are expected to enhance investor confidence and position Nigeria as a sustainable finance leader in Africa.

The SEC chief emphasized that adopting the ISSB framework is no longer a question of “if” but “how and when.” He reaffirmed the Commission’s commitment to working with domestic stakeholders and IOSCO partners to make the transition successful. “By adopting the ISSB standards,” Agama concluded, “we’re building a more stable, transparent and sustainable financial future for Nigeria, Africa, and the world.”

source: the sun