RegAlert2026-09-23
Added
Implementation of the IFRS Sustainability Disclosure Standards in Nigeria
Nigeria has adopted the IFRS Sustainability Disclosure Standards (IFRS S1 and IFRS S2), with a phased implementation roadmap developed by the Financial Reporting Council of Nigeria. This roadmap provides for early adoption (voluntarily for periods ending on or before December 31, 2023) and voluntary adoption (for entities not yet subject to mandatory reporting, for periods beginning on or after January 1, 2024, through December 31, 2027). Mandatory adoption requires Public Interest Entities, including all Public Companies and Significant Public Interest Capital Market Operators, to comply for accounting periods beginning on or after January 1, 2028, and Small and Medium-sized Entities for periods beginning on or after January 1, 2030. The Securities and Exchange Commission further directs all Public Companies and Significant Public Interest Capital Market Operators to submit an Implementation Plan for adopting these standards by October 15, 2026, detailing aspects such as governance, gap assessment, and timelines.
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CIRCULAR TO ALL PUBLIC COMPANIES AND SIGNIFICANT PUBLIC INTEREST CAPITAL MARKET OPERATORS
Pursuant to its powers under the Investments and Securities Act (ISA) 2025, the Securities and Exchange Commission ("the Commission") wishes to draw the attention of all Public Companies and Significant Public Interest Capital Market Operators to Nigeria's adoption of the IFRS Sustainability Disclosure Standards ("IFRS S1 – General Requirements for Disclosure of Sustainability-related Financial Information" and "IFRS S2 – Climate-related Disclosures") as part of the Federal Government's commitment to strengthening sustainability reporting and promoting transparent, comparable, and decision-useful sustainability-related financial disclosures.
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Source: Securities and Exchange Commission Nigeria — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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SEC published 6 documents in the last 30 days. We email you each new one the day it's published.