At the annual NGX Issuers’ Engagement Forum, industry leaders gathered to drive Nigeria’s transition to sustainable business practices.
The event spotlighted early adopters like Access Holdings Plc and MTN Nigeria, as NGX RegCo CEO Olufemi Shobanjo called for bold action to foster transparency and long-term value.
NGX RegCo Advances IFRS Sustainability Reporting
NGX Regulation Limited (NGX RegCo) hosted its annual Issuers’ Engagement Forum on Wednesday, focusing on adopting the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards.
Themed “Adopting the IFRS Sustainability Disclosure Standards: Strategies and Expectations,” the forum brought together industry leaders, regulators, and top listed companies to drive transparency and sustainability.
During the event, NGX RegCo recognised Access Holdings Plc, Fidelity Bank Plc, MTN Nigeria Communications Plc, and Seplat Energy Plc for successfully adopting the IFRS S1 and S2 standards in their 2023 financial reports.
Moreover, these companies shared valuable insights into their implementation experiences, offering practical guidance to other stakeholders.
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In his remarks, Olufemi Shobanjo, Chief Executive Officer of NGX RegCo, stressed the transformative impact of sustainability disclosures.
He stated: “This forum is not just about compliance; it drives transparency and creates long-term value for stakeholders.”
To support issuers, NGX RegCo has actively organised webinars and collaborated with key organisations, such as the ISSB and FRCN.
Earlier this year, the organisation launched Nigeria’s roadmap for phased adoption of IFRS S1 and S2.
This roadmap aims to help companies align with global best practices while addressing growing investor demands for enhanced environmental, social, and governance (ESG) transparency.
Collaborating For A Sustainable Future
As the forum progressed, Shobanjo urged stakeholders to collaborate, invest in essential technologies, and foster a sustainability-driven culture. He emphasised, “By adopting these standards, we strengthen markets, attract investment, and ensure a sustainable future.”
In conclusion, the forum highlighted NGX RegCo’s commitment to driving sustainability and equipping stakeholders to meet the growing expectations of ESG reporting in Nigeria’s capital markets.
