SEC appoints acting DG as Arunma Oteh bows out

Mr Munir Gwarzo, the Operations Executive Commissioner of the Securities and Exchange Commission (SEC) has been appointed the Acting Director-General of the commission following the exit of Ms Arunma Oteh.

According to a statement made available to newsmen on Monday, Gwarzo’s appointment was announced by Oteh during a formal handover ceremony.

The statement said that Gwarzo, an Associate Member and fellow of the Chartered Institute of Stock brokers, had played roles in the Nigerian Capital Market as an operator and as a regulator.

It read further: “Gwarzo has also participated in several courses both at home and abroad, some of which include, The Securities Market Regulation and Development of Bonds Markets in Johannesburg, Asset Backed Securities and Mortgage Securitization in Singapore and Operational and Credit Risk Management in Dubai among others.”

Oteh was quoted as describing her five year tenure at the Commission as “absolutely outstanding” attributing it to the co-operation she received from every member of staff.

Her words: “When I joined SEC in January 2010, I was absolutely certain about why SEC was important and what its role and agenda was. I was able to articulate it in one phrase `building a world class market’.

[quote]To have a vision and have everyone being able to connect and align around it for me whether it is capital market operators, shareholders and other stakeholders for me was very rewarding. But I don’t think it would have been possible without everyone of you accepting the challenge to try something in a different way or do something in a way you are not quite sure of,[/quote] the statement further quoted her as saying.

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