Arunma Oteh bows out as SEC DG

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The Director-General, Securities and Exchange Commission, Ms Arunma Oteh has officially bowed out of office after spending the mandatory five years.

She became the DG of SEC in January 2010 and in June of that same year she was elected Chairperson, Africa Middle East Regional Committee of the International Organisation of Securities Commissions. She was re-elected in June 2012 and in September 2014.

She is a member of the Nigerian Economic Management Team chaired by President Goodluck Jonathan and is also a director on the Board of the National Pension Commission and the Asset Management Corporation of Nigeria. She is also a board member of the International Organisation of Securities

On Sunday, the commission released a statement stating that Oteh was able to carry out a series of reforms that helped to reposition the capital market in line with global best practices during her five-year tenure.

In the statement released by the commission, some of the reforms, she carried out included: the restoration of investor confidence through strong enforcement actions and improvement of rules and regulations; deepening the scope of the capital market; and restoring market integrity through zero tolerance for rule infractions. She was also credited with strengthening disclosures and transparency in the capital market, promoting good corporate governance and helping to build the capacity building of the workers.

She has handed over to Mr. Mounir Gwarzo as the Acting Director General of the commission.

News source: www.punchng.com