Undoubtedly, the World Bank’s se­lection of Oteh for this job is a good choice. It is in recognition of her formi­dable intellectual prowess, exposure, experience, unwavering competitive spirit and in-depth knowledge of global financial markets and regulatory sys­tems. The position is an utmost test of her capability and the strong creden­tials she is bringing into the office.
We congratulate Ms. Oteh on this well-deserved appointment, and look forward to the impact it will have on emerging nations like Nigeria which are in dire need of investment inflows to support and stimulate their declin­ing economies.
A close look at Ms. Oteh’s credentials and antecedents shows that she is well equipped to discharge the functions of these high offices creditably. Prior to joining Nigeria’s apex regulatory agen­cy, SEC, for a five-year tenure that be­gan in 2010 and ended few months ago, she had played very important roles in some international organisations. She was Group Vice President, Corporate Services, at the African Development Bank which she joined in 1992. In that capacity, she was credited with carry­ing out reforms in departments such as Human Resources, Information and Communication Technology and Insti­tutional Procurement. She holds a B.Sc (First Class) in Computer Science from the University of Nigeria, Nsukka, and an MBA from Harvard University.
One particular accomplishment was her role as AfDB Group Treasurer be­tween 2001 and 2006, when she spear­headed the bank’s ground-breaking fun­draising and capital market activities across the world. Her previous roles at the organisation included trading room management, investment portfolio cov­erage and public sector lending.
All these accomplishments put her in good stead for her appointment as head of Nigeria’s Securities and Exchange Commission by former president, Dr. Goodluck Jonathan.
Although her tenure at SEC was marked by many controversies, there was no doubt that she transformed Ni­geria’s capital market, which, before her appointment, was characterised by allegations of insider abuse and other manipulations. Her firm regula­tory stance helped to sanitise the capi­tal market, even though it pitched her against some politicians.
Her job schedule at the World Bank is heavy. As Vice President and Treasurer, her job description includes managing and leading a large and diverse team responsible for managing a pool of more than $150 billion in assets. Her other responsibilities include main­taining the bank’s global reputation as a prudent and innovative borrower, in­vestor and risk management, as well as management of an extensive client ad­visory. She also has responsibility for transactions and asset management business for the bank.
Beyond these, she will, in her capacity as one the Bank’s key representatives, engage with outside stakeholders, in­cluding global private sector financial institutions, the financial media and the sovereign debt and reserve manag­ers in client countries, including Nige­ria. She will also collaborate extensive­ly with Finance partners throughout the World Bank Group.
None of these tasks is easy. But as a top performer, nothing less than out­standing success is expected of her. We urge her to be focused on her du­ties, and to recognise that she will ulti­mately be judged by what she is able to achieve in the new office.
In that regard, expectations are high that Ms. Oteh will see her appoint­ment as a sign of trust in her ability. Many women in Nigeria and around the world now see her as a role model. She should, therefore, live up to the expec­tations of the office, and do herself and Nigeria proud. The whole world now is her turf. We wish her a successful ten­ure.