The Securities and Exchange Commission (SEC) on Sunday announced the
exit of Ms. Arunma Oteh as the commission’s Director-General.
The commission made the disclosure in a statement issued by its
management and made available to the News Agency of Nigeria (NAN) in
It said Oteh would be remembered for her passion, purpose, articulation
and implementation of reform measures driven by the vision to transform
the Nigerian capital market into world class.
“She was in a hurry to see Nigeria achieve a world class capital market
that will drive development and make Nigeria one of the most attractive
investment destination,” it said.
Some of her accomplishments, according to the statement, included
restoration of investor confidence through strong enforcement actions
and improvement of rules and regulations and investor’s education.
“Under her leadership, the SEC also championed reforms at the Nigeria
Stock Exchange (NSE) that witnessed a more robust output and delivery in
its operator/oversight role,” the statement said.
The initiative to revamp NSE listing rules, it said, led to landmark
transactions in dual listing of SEPLAT Petroleum on the NSE and the
London Stock Exchange in April 2014, as well as the development of an
alternative securities market.