The move was disclosed by Emoomotimi Agama, director-general of the SEC, during an investor roundtable on the International Sustainability Standards Board (ISSB) over the weekend.

Agama explained that the rollout will be tailored to Nigeria’s market realities. “This means capacity building — working with issuers, auditors, and preparers to ensure they understand and are ready for the new requirements; phased implementation, starting with larger listed entities before expanding to others; and developing an assurance framework to verify disclosures and ensure their credibility,” he said.

According to him, the phased approach will ensure that while Nigeria aligns with the global baseline, the implementation remains practical and proportional to local conditions.

Agama stressed that the adoption goes beyond merely following international trends. Instead, it is about strengthening transparency, good governance, and the ability to manage long-term risks, which he said will position Nigeria’s capital market as a more attractive destination for investors.

The global sustainability disclosure standard provides a unified framework for companies to report on environmental, social, and governance (ESG) issues.

By creating a consistent baseline, the standard makes it easier for investors to compare disclosures across countries and sectors, enabling better assessment of sustainability-related risks and opportunities.

These honours were announced at a special ceremony held on Friday, 17^th May 2024, at the NGX headquarters in Lagos.

Organized by the Institute of Chartered Accountants of Nigeria (ICAN) in collaboration with NGX Regulation Limited (NGX RegCo), the awards recognized excellence in corporate reporting among the top 30 most capitalized companies listed on the Nigerian Stock Exchange for the 2022 financial reporting year.

Airtel Africa stood out among other nominees in the areas of Financial Reporting, Corporate Governance, and Sustainability Reporting.

In the highly competitive Financial Reporting Category, Airtel Africa was recognized as Most Outstanding, edging out industry giants such as Dangote Cement Plc, Dangote Sugar Refinery Plc, MTN Nigeria Communications Plc, Seplat Energy Plc, Stanbic IBTC Holdings Plc, and Sterling Financial Holdings Company Plc.

Speaking on the awards, Carl Cruz, the group chief executive officer, Airtel Nigeria, expressed gratitude for the awards while restating the organization’s enduring commitment to promoting transparency and accountability for the benefit of all stakeholders.

“At Airtel, we strive to set the benchmark for excellence in financial reporting and corporate reporting, and these awards validate our efforts in this regard. We have been deliberate in maintaining a painstaking dedication to transparency for the sake of our shareholders, which is also how we keep our promises to our shareholders,” he said.

Airtel Africa also received the Gold Award in the Corporate Reporting Category.

This award, according to Mr. Cruz, underscored Airtel’s culture of fair business practices.

“Today’s recognition reminds us to keep upholding the fundamental principles of integrity, accountability, and ethical conduct across all facets of its operations,” he noted.

In his remarks at the award ceremony, Mr. Olufemi Shobanjo, the chief executive officer, NGX Regulation Limited, stressed the significance of the award, highlighted the importance of transparency and accountability in building a more productive market environment.

“It is noteworthy that integrity is an important drive in ensuring a successful business. In this vein, the Corporate Reporting Award underscores our collective commitment to fostering a capital market that operates on principles of transparency, integrity, and excellence,” he said.

While sharing this positive sentiment regarding the awards, Innocent Okwuosa, the 59th president of the Institute of Chartered Accountants of Nigeria (ICAN), expressed optimism about the future of corporate reporting in the country.

“As sustainability evolves and with Nigeria adopting IFRS S1 and S2 of International Sustainability Standard Board (ISSB),” he said, “it is expected that the corporate reporting in Nigeria will get better and better.”

Airtel Africa remains committed to promoting accountability, transparency, and sustainability in its operations.