Nigeria was the first African country to commit to the ISSB Standards, announcing its intention at COP27 in November 2022. It has taken a direct adoption approach. There is no Nigerian variant of the standards, and entities apply IFRS S1 and IFRS S2 exactly as issued by the ISSB.
This masterclass gives you a practical, expert-led examination of Nigeria's adoption model. It covers the Financial Reporting Council's roadmap and the work of the Adoption Readiness Working Group, the roles of the FRC, the Nigerian Exchange, the Securities and Exchange Commission and the Central Bank of Nigeria, the three-phase adoption timeline, and the amended Roadmap and Sustainability Reporting Guideline 1 unveiled in February 2026.
The session focuses on applied learning throughout. It works through the Adoption Readiness Test Assessment that entities must pass before adopting the standards, a formal prerequisite not required in most other jurisdictions, and Nigeria's phased assurance trajectory towards reasonable assurance under ISSA 5000. It also covers how the NGX Sustainability Disclosure Guidelines, the Sustainable Banking Principles, the Sustainable Finance Principles and the Nigerian Code of Corporate Governance continue to apply alongside the standards.
Key drivers behind the growing importance of this skill include mandatory application for Significant Public Interest Entities from 1 January 2028, the guidance introduced in the 2026 amendment on reporting timelines and professional eligibility, and the practice being set by recognised early adopters across Nigerian banking, telecommunications and energy.
This masterclass assumes prior knowledge of IFRS S1 and IFRS S2. It is designed as an add-on for learners who have already completed the ISSB Pro course series.
The masterclass is delivered as a recorded session, approximately one hour long, and can be completed at your own pace.
Summary
By the end of this masterclass, learners will be able to:
Nigeria's Direct Adoption Model
- Understand how the FRC adopted IFRS S1 and IFRS S2 without local amendment
- Identify the roles of the FRC, the Adoption Readiness Working Group, NGX, the SEC and the Central Bank of Nigeria
- Understand why Nigeria moved early and what direct adoption means for compliance statements
The Roadmap, SRG 1 and Assurance
- Determine reporting obligations across early adopters, voluntary adopters and mandatory adopters
- Apply the Adoption Readiness Test Assessment introduced by Sustainability Reporting Guideline 1
- Understand Nigeria's phased assurance trajectory and the role of ISSA 5000
Existing Frameworks and Practical Preparation
- Understand how the NGX Sustainability Disclosure Guidelines, the Sustainable Banking
Principles and the Sustainable Finance Principles operate alongside the ISSB Standards
- Understand the practical link between the Nigerian Climate Change Act and IFRS S2 emissions data
- Apply the practical steps needed for governance, data infrastructure and professional capacity
Who this is for
Designed for professionals preparing, advising on, or assuring Nigerian sustainability disclosures:
Sustainability and ESG professionals
Sustainability consultants and advisors
Finance and accounting professionals
Corporate reporting teams
Risk and compliance professionals
Internal and external auditors
