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UPDATE: Arunma Oteh, former SEC D-G, joins Ecobank as non-executive director

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Arunma Oteh, a former Director-General of the Securities and Exchange Commission (SEC) has been appointed an independent non-executive director of the Ecobank Transnational Incorporated (ETI) group.

This was announced on Thursday by the group chairman of the financial institution at the 31st Annual General Meeting (AGM) of the bank at the Ecobank headquarters in Lome, Togo’s capital.

“Arunma joined the Board in January 2019 to give us the benefit of her 33 years’ experience,” Emmanuel Ikazoboh, Group Chairman, Ecobank Group, said.

The appointment of the former SEC DG alongside a Senegalese, Aichatou Pouye, followed the retirement of Doli Banda, who served as a non-executive director on ETI for four year through to April 2018.

Oteh served as the DG of SEC, Nigeria from 2010 to 2015. During this period, she rebuilt the Nigerian capital markets after the global financial crisis and served on Nigeria’s Economic Management team.

Prior to joining SEC Nigeria, she worked at the Africa Development Bank for 17 years, including as Group Vice President, Corporate Services (2006 to 2009) and as Group Treasurer (2001 to 2006).

Prior to becoming a non-executive director at the pan-African bank, she served at the World Bank as Vice President and Treasurer from September 30th, 2015 to November 30th 2018. As Treasurer, she led a team that managed assets totalling $200 billion for the World Bank Group, 60 central banks, sovereign wealth funds and other official institutions.

She and her team also maintained the World Bank’s global reputation as a prudent and innovative borrower in over 50 currencies by executing well–prepared transactions and carefully coordinating credit rating and capital market relationships for the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).

She was also responsible for an extensive financial advisory business for World Bank clients and cashflows of over $7 trillion.

During her 33-year career, Oteh also served on the World Economic Forum Agenda Council on Institutional Governance, and the Africa Advisory Council for World Women’s Banking.

“Board recognizes that we must continue to refresh and enhance the quality of the board to ensure that we stay on top of current developments in the banking industry,”Ikazoboh said.

Oteh holds a Masters degree in Business Administration from Harvard Business School and a First-Class Honours Bachelor of Science Degree from the University of Nigeria Nsukka.

She started her career at Centre Point Investments Limited, Nigeria in 1985 and was the pioneer Board of the International Financing Facility for Immunization(2006 to 2011).

 

Endurance Okafor

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