SRG 1 2026 is Nigeria's operational guidance for applying IFRS Sustainability Disclosure Standards. The Financial Reporting Council of Nigeria unveiled the amended adoption roadmap and SRG 1 on 23 February 2026. The guidance explains adoption methodology, readiness assessment, assurance-related expectations and implementation matters for entities preparing IFRS S1/S2-aligned sustainability disclosures.
What preparers should focus on
- Identify material sustainability-related risks and opportunities and connect them to governance, strategy, risk management, metrics and targets.
- Establish internal controls over sustainability reporting. SRG 1 specifically points to clear data ownership, documented methodologies, review of assumptions, validation/reconciliation, and audit trails/evidence retention.
- Prepare for the Nigerian mandatory period beginning with accounting periods on or after 1 January 2028, while earlier adopters follow the applicable roadmap and guidance.
This summary is educational and should be read with the current FRC roadmap, SRG 1 and applicable FRC rules.
Verified sources: Financial Reporting Council of Nigeria — 2026 announcement · FRC Publications