Oteh's Tenure As SEC Director-General Ends

The Securities and Exchange Commission on Sunday announced the exit of
Ms Arunma Oteh as the commission's Director-General.

The commission made the disclosure in a statement by its management
and made available to theNews Agency of Nigeriain Lagos.

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, include the
restoration of investors' confidence through strong enforcement
actions and improvement of rules and regulations and investor
education.

It said SEC established the National Investor Protection Fund and
strengthened its Administrative Proceedings Committee to deepen and
broaden the market.

"The market witnessed significant product innovation, improved listing
rules, landmark bond market reforms widening of participation in the
markets through licensing and coming on stream of other capital trade
points.

"Under her leadership, the SEC also championed reforms at the Nigeria
Stock Exchange 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.
--PUNCH