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ARTICLE · 28 FEBRUARY 2025

IFRS Sustainability Standards: Nigeria's Implementation Roadmap

Forvis Mazars
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Access the Financial Reporting Council of Nigeria's strategic roadmap for implementing IFRS Sustainability Disclosure Standards, designed to transform corporate reporting practices across Nigerian businesses.

NigeriaFinance and Banking
Elizabeth Ocheibi
Elizabeth Ocheibi

Access the Financial Reporting Council of Nigeria's strategic roadmap for implementing IFRS Sustainability Disclosure Standards, designed to transform corporate reporting practices across Nigerian businesses.

As the global business landscape continues to evolve, to remain competitive and ahead of emergent risks and opportunities, adopting a structured approach to managing and reporting sustainability performance should be a priority for organizations. For Nigeria, following the adoption of the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards, S1 (sustainability-related disclosures) and S2 (climate-related disclosures), the Financial Reporting Council of Nigeria (FRC) established the Adoption Readiness Working Group (ARWG) in 2023. The initiative was strategic as the FRC recognized the pressing need for a proactive approach to implementing the standards in Nigeria. The ARWG brought together different stakeholders, including

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