Ex-DG of SEC, Arunma Oteh, appointed World Bank VP, Treasurer

Arunma Oteh: now vice president of World Bank

Former Director-General of Nigerian Security and Exchange Commission, SEC, Ms. Arunma Oteh, has been appointed Vice President and Treasurer of the World Bank.

Her appointment came Friday in an announcement made public by the President of the World Bank, Jim Yong Kim.

“I am pleased to announce the appointment of Arunma Oteh as VP and Treasurer of the World Bank,” Kim said in a statement.

Oteh who is expected to resume on 28 September, 2015, has been saddled with these responsibilities:

(i) maintain the World Bank’s global reputation as a prudent and innovative borrower, investor and risk manager;

(ii) manage an extensive client advisory, transaction and asset management business for the Bank;

(iii) engage, in her capacity as one of the World Bank’s key representatives, with outside stakeholders including global private sector financial institutions, the financial media and the sovereign debt and reserve managers in client countries, as well as ratings agencies; and

(iv) collaborate extensively with the Finance Partners throughout the WBG, including with IFC and MIGA, expanding shared approaches, in particular around innovative financing for development and for key new projects.

The statement said Ms. Oteh was selected to her new position through an international competitive search.

Oteh was appointed in 2010 to head SEC and Kim noted that Oteh led the transformation of the Nigerian capital markets industry into a major global presence as SEC DG.

“She was a member of the Board of the International Organization of Securities Commissions (IOSCO) and the Chairperson of the Africa Middle East Regional Committee of IOSCO.

“Prior to joining the Securities and Exchange Commission (SEC) of Nigeria, Arunma was Group Vice President, Corporate Services, at the African Development Bank Group (AfDB).

“In this role, she oversaw a number of departments, including human resources, information and communications technology, and institutional procurement.

“From 2001 to 2006 she held the role of AfDB Group Treasurer, where she led AfDB’s fundraising and capital market activities across the world.

“Earlier roles at the AfDB, which she joined in 1992, included trading room management, investment portfolio coverage, and public sector lending. She also held other positions in capital markets and lending during the course of her career at the AfDB.

Oteh has confirmed her appointment on Twitter where she thanked Nigerians for their support.