MTN Nigeria Commits To Ethical Conduct With IFRS S1, S2 Compliance

MTN Nigeria has raised the bar for corporate disclosure in Africa after publishing its 2025 sustainability report in full compliance with International Financial Reporting Standards S1 and S2.

The report, independently assured by Ernst & Young, marks the telecom operator’s seventh consecutive annual sustainability publication and third year as an early adopter of the global framework ahead of its mandatory implementation.

The CEO of MTN Nigeria, Dr. Karl Toriola, said, “strong governance and ethical conduct are foundational to our sustainability strategy. We reinforced compliance through our Conduct Passport Framework and robust internal controls.”

He added that “in May 2025, we became the first telecommunications company in Nigeria to publicly present a sustainability report on the Nigerian Exchange Group platform, an important milestone in our commitment to IFRS S1 and S2- aligned disclosure and accountability.”

The company also secured Carbon Disclosure Project ratings of ‘B-’ for climate change and ‘C’ for water security.

Under the IFRS S2 framework, the telecoms operator disclosed climate-related risks linked to flooding, heat stress, regulatory changes and possible future taxes or charges on carbon emissions, following a climate scenario analysis completed in 2024.

The report also showed that MTN Nigeria now uses a digital reporting format – XBRL. This makes its sustainability and governance data easier for investors and ESG rating agencies to access and analyse through automated systems.

The Company also carried out assessments to understand how sustainability issues affect both its business operations and society at large, while measuring its overall economic, environmental and social impact from 2021 to 2024.