The immediate past Director-General, Nigerian Security and Exchange Commission (SEC), Ms. Arunma Oteh, was yesterday named Vice President and Treasurer of the World Bank.
President of the World Bank, Jim Yong Kim who announced the appointment said she was selected through an international competitive search.
He hailed Oteh’s transformation of the Nigerian capital markets industry into a major global presence as SEC DG.
She is due to assume duty on September 28.
Her responsibilities include: maintaining the World Bank’s global reputation as a prudent and innovative borrower, investor and risk manager; managing an extensive client advisory, transaction and asset management business for the Bank; and engaging , 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.
She is also expected to 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.
Oteh was a member of the Board of the International Organization of Securities Commissions (IOSCO) ; Chairperson of the Africa Middle East Regional Committee of IOSCO and Group Vice President, Corporate Services, at the African Development Bank Group (AfDB).
Oteh has confirmed her appointment on Twitter where she thanked Nigerians for their support.
Read: Breaking News