Ms. Arunma Oteh
The capital market got some respite last week when the Director-General, SEC, Ms. Arunma Oteh, was unanimously returned un-opposed as chairperson of the African/Middle East Regional Committee (AMERC) of International Organisation of Securities Commissions (IOSCO). Her re-election took place at the IOSCO annual conference in Beijing, China.
Also returned un-opposed was the Vice-Chairman of the regional committee, Hassan Boulaknadal, who is the Chief Executive Officer of the Moroccan capital market regulatory authority.
The re-election is coming amid the probe of the near collapse of the Nigerian capital market by the House of Representatives Committee on Capital Market.
A statement from SEC said in view of the new strategic direction of the IOSCO, Oteh and Boulaknadal automatically became members of its Transitional Board, the highest policy making body of the Organisation.
The SEC boss had served as chairperson of AMERC for a two year term, before re-contesting the position for another term.
The statement quoted some of the delegates who participated at the election as saying Oteh’s unanimous return by the 22 member countries of AMERC was a direct consequence of the visionary leadership which she has provided the committee since becoming chairperson in 2010.
“Specifically, the AMERC chairperson has remained committed to the actualisation of an enduring vision for the region in concert with the goals and objectives of IOSCO. Her efforts have also resulted in improved capacity, communication, cooperation and visibility for the region within the IOSCO community,” a delegate said.