SEC Nigeria Joins Global Network to Adopt Sustainability Reporting Standards
director-general of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama
The move underscores Nigeria’s growing commitment to sustainable finance and the implementation of global sustainability disclosure standards.
The GEMC Sustainability Network was established by IOSCO to support the adoption and implementation of the International Sustainability Standards Board (ISSB) standards across growth and emerging markets.
The Network provides participating jurisdictions with access to capacity building, technical support, and supervisory guidance to implement sustainability reporting in a way that is aligned with international expectations.
Speaking on the sidelines of the 2025 IOSCO Annual Meeting in Doha, Qatar, the Director General of SEC Nigeria, Dr. Emomotimi Agama, said the Commission’s membership in the GEMC Network represents a strategic milestone that will deepen Nigeria’s capital market transparency, attract foreign investment, and promote inclusive economic growth.
“GEMC plays a crucial role in promoting sustainable and resilient capital markets in emerging economies,” Agama said. “Nigeria’s membership is a strong signal of our intention to align with global sustainability frameworks. It enhances our credibility in the international financial system and strengthens our ability to attract green and responsible investments.”
The ISSB standards, endorsed by IOSCO in July 2023, were developed to meet the increasing global demand for decision-useful, reliable, and comparable sustainability-related financial disclosures. IFRS S1 and IFRS S2, the two foundational standards, aim to ensure companies provide consistent information about sustainability risks and opportunities, particularly those related to climate.
As a member of the GEMC Network, Nigeria will benefit from access to IOSCO’s extensive resources, including jurisdictional guides, roadmap development tools, technical assistance, and educational materials. These resources will support the SEC and capital market participants in understanding, adopting, and applying the ISSB standards effectively.
Dr. Agama noted that Nigeria’s participation in the Network is also in line with the country’s broader sustainable development goals, particularly efforts aimed at reducing carbon emissions, encouraging responsible business practices, and promoting environmental protection.
“Beyond policy alignment, this initiative strengthens our local institutions through knowledge exchange and capacity building,” Agama added. “It offers us the tools to develop a more robust regulatory framework around ESG disclosures and sustainable finance.”
He emphasised that Nigeria’s participation would enable the country to share its own experiences while learning from best practices across other emerging markets and global financial regulators.
The GEMC Network serves as a platform for continuous engagement through regional coordination, virtual and physical meetings, and collaboration with IOSCO’s four regional committees. It is a key part of IOSCO’s strategy to close the gap in corporate sustainability disclosures and improve market integrity worldwide.
Through this collaboration, Nigeria is positioning its capital market for a future where sustainability reporting becomes central to investment decisions and market behaviour. The SEC’s involvement marks a crucial step in modernising the market to reflect global priorities, particularly those linked to climate action, inclusive finance, and long-term value creation.
Ultimately, the SEC Nigeria’s participation in the IOSCO-GEMC Sustainability Network sends a strong message: the country is not just keeping pace with global regulatory evolution but is actively contributing to shaping a more transparent, resilient, and sustainable financial ecosystem.
About The Author
