Federal Secretariat, Lagos

The Securities and Exchange Commission (SEC), says it has adopted the Nigerian Sustainable Finance Principles (NSFP) which was developed by the Financial Services Regulation Coordinating Committee (FSRCC) for Capital Market Operators (CMOs).

The commission in a statement in Abuja on Sunday, said that the objectives of the guidelines were to stimulate a resilient, competitive and sustainable market that would promote economic development.

The commission, in the statement made available to NAN, explained that the guidelines would also improve corporate governance practices to ensure that the participants in the market operated in a transparent and sustainable manner.

It said it will also help in accessing affordable capital market products by the economically less privileged.

According to the Commission, the guidelines and approach were principle-based and therefore do not prescribe specific implementation requirements.

It however noted that the principles be applied by each regulated entity in a manner that would fit their mandates, core values, and enterprise risk management framework.

”The adoption of financial sustainability principles and its reporting are vital steps towards achieving a sustainable economy.

”Consequently, regulated entities must report regularly on the extent to which they apply these principles,” the Commission explained.

SEC, however, listed its regulated entities to include CMOs, Trade Groups, Self-Regulated Organisations (SROs) and Capital Trade Points