Arunma Oteh is a Nigerian economist. She was the Treasurer and a Vice President of the
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...
(2015–2018). She became the Director General of the
Securities and Exchange Commission
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...
(SEC) in
Nigeria
Nigeria ( ), , ig, Naìjíríyà, yo, Nàìjíríà, pcm, Naijá , ff, Naajeeriya, kcg, Naijeriya officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf o ...
in January 2010. In this position she was responsible for regulation of Nigeria's capital markets, including the
Nigerian Stock Exchange
The Nigerian Stock Exchange (NSE) now Nigerian Exchange Group is a Nigerian stock exchange founded in 1961 in Lagos. As of November 2019, it has a total of 161 listed companies, with 8 domestic companies on the premium board, 144 companies on the ...
.
[ In July 2015, after her tenure in the SEC, she was appointed the vice president and treasurer of the ]World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...
. She was appointed chair of the Royal African Society The Royal African Society (RAS) of the United Kingdom was founded in 1901 to promote relations between the United Kingdom and countries in Africa. The RAS is a not-for-profit membership organisation based in London. In addition to producing its jour ...
in July 2021, taking over from Zeinab Badawi
Zeinab Badawi ( ar, زينب بدوي; born October 1959) is a Sudanese-British television and radio journalist. She was the first presenter of the ''ITV Morning News'' (later known as '' ITV News at 5:30''), and co-presented ''Channel 4 News'' ...
.
Early life and education
Arunma Oteh is of Nigerian/British nationality. She is from Abia State
Abia State ( ig, Ȯha Abia) is a state in the South-East geopolitical zone of Nigeria, it is bordered to the north and northeast by the states of Enugu, and Ebonyi, Imo State to the west, Cross River State to the east, Akwa Ibom State to the ...
. She studied at the University of Nigeria in Nsukka
Nsukka is a town and a Local Government Area in Enugu State, Nigeria. Nsukka shares a common border as a town with Edem, Opi (archaeological site), Ede-Oballa, and Obimo.
The postal code of the area is 410001 and 410002 respectively re ...
, earning a first class honors degree in Computer Science. She went on to the Harvard Business School
Harvard Business School (HBS) is the graduate business school of Harvard University, a private research university in Boston, Massachusetts. It is consistently ranked among the top business schools in the world and offers a large full-time MBA p ...
where she obtained a master's degree in Business Administration. She co-edited the book, ''African Voices African Visions''.[
]
Career
Oteh worked for various institutions including the Harvard Institute for International Development
The Harvard Institute for International Development (HIID) was a think-tank dedicated to helping nations join the global economy, operating between 1974 and 2000. It was a center within Harvard University, United States.
Foundation and leadership ...
and Centre Point Investments Limited of Nigeria in corporate finance, consulting, teaching and research. She joined the African Development Bank
The African Development Bank Group (AfDB) or (BAD) is a multilateral development finance institution headquartered in Abidjan, Ivory Coast, since September 2014. The AfDB is a financial provider to African governments and private companies i ...
(AfDB) in 1992.[
Oteh 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.][
Oteh was appointed vice-president for Corporate Management at the AfDB in March 2006, responsible for Language Services, General Services and Procurement, Human Resources, and Information Management and Methods.][
]
SEC Director General, 2009–2015
Oteh was nominated as the Director-General of the Securities & Exchange Commission by President Umaru Yar'Adua
Umaru Musa Yar'Adua (16 August 19515 May 2010) was a Nigerian politician who, was the President of Nigeria from 2007 to 2010. He was declared the winner of the Nigerian presidential election held on 21 April 2007, and was sworn in on 29 May 20 ...
in July 2009.[
Arunma Oteh became Director General of the SEC in January 2010, after being confirmed by the Senate.][
In a June 2010 interview with the ]BBC #REDIRECT BBC #REDIRECT BBC
Here i going to introduce about the best teacher of my life b BALAJI sir. He is the precious gift that I got befor 2yrs . How has helped and thought all the concept and made my success in the 10th board exam. ...
...
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
elite, but expressed confidence due to the backing she had received from President
.