- Arunma Oteh
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Arunma Oteh became Director General of the Securities and Exchange Commission (SEC) in Nigeria in January 2010. In this position she is responsible for regulation of Nigeria's capital markets, including the Nigerian Stock Exchange.[1]
Contents
Background
Arunma Oteh is of Nigerian/British nationality. She is from Abia State. She studied at the University of Nigeria in Nsukka, Nigeria, earning a first class honors degree in Computer Science. She went on to the Harvard Business School where she obtained a Masters Degree in Business Administration. She co-edited the book, African Voices African Visions.[2]
Early career
Oteh worked for various institutions including the Harvard Institute for International Development and Centre Point Investments Limited of Nigeria in corporate finance, consulting, teaching and research. She joined the African Development Bank (ADB) in 1992.[2] She was a Senior Investment Officer/Senior Capital Markets Officer from 1993 to 1997, then Division Manager Investments and Trading Room from 1997 to 2001 when she was appointed the Bank's Group Treasurer responsible for fund raising and investments in major international capital markets.[3] Oteh was appointed Vice-President for Corporate Management at the ADB in March 2006, responsible for Language Services, General Services and Procurement, Human Resources, and Information Management and Methods.[2]
SEC Director General
The SEC Director General Musa Al-Faki resigned in April 2009 amid criticism of the SEC role in a share-manipulation scandal involving African Petroleum stock.[4] Oteh was nominated Director-General and Executive Commissioner (Legal & Compliance) of the Securities & Exchange Commission by President Umaru Yar'Adua in July 2009, subject to Senate confirmation.[3] Arunma Oteh became Director General of the SEC in January 2010.[4]
In a June 2010 interview with the BBC Oteh listed "wash sales, market rigging, pumping and dumping shares" as some of the abuses in Nigeria's capital market. She said the SEC expected to charge about 200 individuals and entities in civil or criminal cases. She faced resistance from the powerful Nigerian rent-seeking elite, but expressed confidence due to the backing she had received from President Goodluck Jonathan.[1] In August 2010 Oteh dismissed Okereke-Onyiuke from the stock exchange.[4]
Bibliography
- Olugbenga Adesida, Arunma Oteh (2004). African voices, African visions. Nordic Africa Institute. ISBN 917106530X.
References
- ^ a b Caroline Duffield (1 July 2010). "Nigeria's iron lady takes on fraudsters". BBC News. http://www.bbc.co.uk/news/10464725.
- ^ a b c "Leader Profile: Arunma Oteh, Vice-President, AfDB". FWU Newsletter. 18 July 2008. http://www.devex.com/en/articles/leader-profile-arunma-oteh-vice-president-afdb. Retrieved 2011-06-08.
- ^ a b Emma Ujah (16 July 2009). "Yar'Adua Nominates Arunma Oteh SEC DG". Vanguard (Nigeria). http://allafrica.com/stories/200907161103.html. Retrieved 2011-06-08.
- ^ a b c Tayo Odunlami (2010-08-09). "An Amazon’s Disgraceful Crash". The News Nigeria. http://thenewsafrica.com/2010/08/09/an-amazons-disgrace-crash/. Retrieved 2011-06-08.
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