Nigeria to participate in new reporting standards launch
This was disclosed by the Executive Secretary of the Financial Reporting Council Nigeria, Shuaibu Adamu, at the three-day virtual workshop on IFRS Sustainability Disclosure Standards for companies and investors in the capital market.
Speaking at the webinar, Adamu said, “As we are aware the International Sustainability Standards Board came into being at COP26. Since that time, they have been working to develop sustainability standards to be used across the world. So far, they have been able to develop two standards which will be launched this June and I’m happy to say that Nigeria is one of the countries selected, in fact, I think the only African country that has been selected for the launching of these standards.
In her comments, the Chief Executive Officer of NGX RegCO, Ms Tinuade Awe, said, “As a member of the NGX Group, our commitment towards driving sustainability and climate disclosures dates back in time and continues as we partner with organisations such as the FRC and so we are pleased to have these sessions as they are important, and we look forward to having more collaborations with the FRC as well as other organisations.
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