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World Bank appoints Nigerian woman as vice president


A NIGERIAN woman has been recruited by the World Bank to fulfill two top roles.

World Bank President Jim Yong Kim announced the appointment of Arunma Oteh as vice president and treasurer of the World Bank.

“Arunma has deep knowledge of capital markets and tremendous experience as the former Treasurer of one of our partner development banks,” said Kim.

“We are very fortunate to be able to recruit an individual of Arunma’s obvious caliber.”

In her role at the World Bank, which is effective from September 28, Oteh will manage and lead a large and diverse team responsible for managing more than $150 billion in assets.

Oteh, a Nigerian national, was most recently the director general of the Securities and Exchange Commission (SEC) of Nigeria. Appointed to a five-year term by the President of Nigeria in 2010, she led the transformation of the country’s capital markets industry into a major global presence.

She was a member of the Board of the International Organisation of Securities Commissions (IOSCO) and the Chairperson of the Africa Middle East Regional Committee of IOSCO.

Prior to joining the SEC of Nigeria, Oteh was group vice president, corporate services, at the African Development Bank Group (AfDB).

In this role she oversaw a number of departments, including human resources, information and communications technology, and institutional procurement. From 2001 to 2006 she held the role of AfDB group treasurer, where she led AfDB’s fundraising and capital market activities across the world.

Earlier roles at the AfDB, which she joined in 1992, included trading room management, investment portfolio coverage, and public sector lending. She also held other positions in capital markets and lending during the course of her career at the AfDB.

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