The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

Arunma Oteh: A reformer fights back

In an exclusive interview, Arunma Oteh says her temporary suspension earlier this year as head of the Nigerian Securities and Exchange Commission was just the latest in a series of attempts to unseat her. But she says she and her allies are winning the battle to stop market abuses and change Nigeria.

To outsiders looking at Nigeria, Arunma Oteh was an unlikely target for allegations earlier this year of mismanagement of official funds. She has now been cleared. "My integrity has never been questioned, not once in a 28-year career," Oteh says.

This is a woman who seems genuinely committed to helping make the markets she regulates, as director general of the Securities and Exchange Commission, into a more effective instrument of Nigeria’s advancement. In fact, Oteh has spent much of her life working in development finance, including 18 years at the African Development Bank.

"I did find that I could make a difference [at the SEC]," she says, shortly before her reinstatement after a temporary suspension this July. "In the two-and-a-half years since I’ve been director general we have taken significant steps to prevent market abuses."

Oteh says one of the things to have brought her most trouble since coming back to Nigeria in 2010 was the controversial decision she made shortly after her arrival to remove the former head of the Nigerian Stock Exchange, Ndi Okereke-Onyiuke. Over a decade in charge of the exchange, Okereke-Onyiuke had presided over a market that in Oteh’s view grew rapidly, but with insufficient safeguards to prevent abuses.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree