By Progress Godfrey

ABUJA — Nigeria has taken a decisive step toward modernising corporate disclosure with the adoption of digital sustainability reporting, following the signing of a Memorandum of Understanding between the Financial Reporting Council of Nigeria (FRC), SALI Technologies, and Regulatory Compliance Readiness Advisors.

The agreement formalises the implementation of a National Digital Platform for Sustainability Reporting aimed at strengthening transparency, accountability, and data-driven regulation across Nigeria’s corporate ecosystem.

Speaking at the signing ceremony in Abuja on Wednesday, Executive Secretary and CEO of the FRC, Dr Rabiu Olowo, described the development as more than a routine agreement, noting that the platform will enable the council to standardise sustainability disclosures, monitor compliance in real time, detect risks and misstatements, and strengthen enforcement through data-driven oversight.

He said the initiative marks a shift from fragmented and manual sustainability reporting to a technology-enabled framework designed to enhance credibility and trust in corporate disclosures.

“This platform will enable structured sustainability reporting across Public Interest Entities. It will enhance regulatory monitoring. It will strengthen enforcement capability. It will generate actionable analytics. And importantly, it will support assurance activities that enhance credibility and trust,” Olowo said.

“For too long, sustainability reporting has often been fragmented, manual, inconsistent, and difficult to verify. Today, we are replacing that fragmentation with integration. We are replacing opacity with transparency, and we are replacing manual inefficiency with digital intelligence.”

He added that the platform would ensure sustainability reporting supports competitiveness rather than becoming a regulatory burden.

Chief Executive Officer of SALI Technologies, Dr Eberechi Weli, said the partnership reflects Nigeria’s readiness to embrace advanced, data-driven sustainability reporting supported by artificial intelligence.

He explained that SALI’s technology was developed to reduce manual effort, improve accuracy, and enable digital evaluation of sustainability reports across sectors and organisations.

“What we intend to do is to enable reporting and evaluation of reporting digitally,” he said, adding that the collaboration would help position Nigeria as a leader in credible sustainability reporting with positive implications for investors, regulators, and public interest entities.

Founder and Chief Executive of Regulatory Compliance Readiness Advisors Limited, Dr Iheanyi Anyahara, described the initiative as a national capacity development effort extending beyond a regulatory exercise.

“As a partner responsible for capacity under the NDP, RCRA recognises that technology alone does not transform systems — people do. Standards do not implement themselves. Platforms do not operate themselves. Data does not become credible without competencies,” he said.

He added that RCRA would work with Nigerian stakeholders to ensure proper understanding and effective implementation of the platform.