What is the SRG 1 guideline in Nigeria?
SRG 1 is the FRC's operational guideline for implementing sustainability reporting in Nigeria. It adds local requirements on readiness, annual-report placement, preparer registration, sign-off, controls and presentation.
The official SRG 1 document states that IFRS S1 and IFRS S2 are the adopted standards for the private sector. SRG 1 explains how that adoption works in Nigeria rather than replacing those standards.
Who must complete the FRC readiness test?
Every entity adopting the IFRS Sustainability Disclosure Standards must complete the readiness assessment before its first report. That includes voluntary adopters, not only entities waiting for mandatory reporting.
The FRC's 2026 announcement describes the assessment as the mechanism for evaluating preparedness. Early reporting is therefore not a route around readiness.
What documents are required at each SRG 1 readiness-test stage?
The stages move from board commitment and planning to implemented policies, controls and evidence. A company should treat them as a controlled programme rather than three last-minute uploads.
| Stage | Core evidence to prepare | Timing reference |
|---|---|---|
| Stage one | Board resolution, gap analysis and implementation plan | Before the first reporting period |
| Stage two | Policies, materiality work, governance, training and professional registration | Early in the reporting period |
| Stage three | Working data, metrics, controls, review and reporting evidence | Later in the reporting period |
Always confirm the complete list and current submission instructions in SRG 1 and later FRC directives.
When are the three readiness-test stages due?
Stage one is due three months before the first reporting period begins, with later stages following after the period starts. The exact dates depend on the entity's financial year, not simply the calendar year.
A December year-end and a June year-end will therefore work to different readiness calendars. Use the reporting deadlines page to translate the rule into dates.
Who may prepare and sign the sustainability disclosure?
Preparation may involve a team, but eligible professionals and firms must meet FRC registration requirements. The member of management responsible for sustainability reporting signs the disclosure with their FRC registration number.
SRG 1 lists relevant professional and sustainability-specialist routes. A company engaging an external adviser should verify the person's or firm's registration rather than rely on a job title.
Where must the disclosure appear in the annual report?
The sustainability disclosure must be a clearly titled, identifiable section placed after the Directors' Report and before the financial statements. It should have a beginning and an end rather than being scattered across the annual report.
The disclosure begins with the required compliance and policy information, then follows the applicable standard. Interviews, award pictures and unrelated CSR material should not obscure it.
How should a company operationalise the FRC readiness test?
Assign an owner to every required document, data stream, control and approval, then track completion against the entity's reporting calendar. Preserve source evidence and decisions as the work happens because a retrospective reconstruction is slower and harder to defend.
Emvert supports the current Scope 1 and Scope 2 reporting record; it does not submit the readiness test or file through the FRC platform.