SEC to adopt international sustainability framework to attract foreign investors

Emomotimi Agama, the director general of the Securities and Exchange Commission (SEC), says Nigeria will adopt a tailored approach to the international sustainability framework, rather than a “copy and paste” method.

Agama spoke at an investors’ roundtable on the International Sustainability Standards Board (ISSB) during the weekend.

The DG said the SEC is considering a gradual implementation of the global sustainability disclosure standards developed by the International Organisation of Securities Commissions (IOSCO).

He explained that Nigeria, having participated in the task force that developed the standards, will continue to support the four pillars upon which they were built.

“Nigeria, with its vast natural resources and growing population, is particularly vulnerable to climate change, and is pursuing an ambitious sustainable finance agenda,” he explained.

“This 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 to enhance the Nigerian capital market’s attractiveness and signal transparency to international investors.

He explained that the move transforms the ISSB into a definitive global framework for sustainability disclosures.

“The case for adoption is clear: for global comparability, for investor trust, for managing systemic risk, and for reducing complexity,” the DG said.

“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 implementing the standards effectively through domestic and international collaboration.

By adopting ISSB standards, Agama added that Nigeria is building a more stable, transparent, and sustainable financial future for itself, Africa, and the world.