The Securities and Exchange Commission (SEC) has said that the adoption of the International Sustainability Standards Board (ISSB) disclosure framework will help reduce information risk, lower the cost of capital for issuers, build stronger investor confidence and attract international capital flows into the country’s capital markets.
Speaking on the sidelines of a panel session on IFRS S1 and S2 standards, SEC Director-General, Emomotimi Agama, said the Commission was committed to positioning Nigeria’s capital market in line with the global baseline set by the ISSB, which operates under the International Financial Reporting Standards (IFRS) Foundation.
He noted that this move was critical for building investor confidence, lowering the cost of capital for issuers, and making Nigerian securities more attractive to global institutional investors and development finance institutions (DFIs).
Agama explained that as a member of the International Organisation of Securities Commissions (IOSCO), the SEC has been actively engaged in international policy discussions and is part of the ISSB Standards Adoption Readiness Work Group (ARWG) that developed Nigeria’s roadmap for implementation.
