Breaking News : Director General of Stock Exchange Arunma Oteh , Appointed as Vice-President for World Bank

Nigeria’s Arunma Oteh has been named the new vice president and treasurer for the World Bank. Photo: Forbes Africa

The director general of Nigeria Stock Exchange Arunma Oteh, has  appointed as the vice-president and treasurer of World Bank.

She become first African and Nigeria women that will head that position.

According to a statement from the  World Bank reported that Oteh , was selected to this position through an international competitive search process and will assume the role on the 28th September.

The international financial institution says as VP and treasurer, Oteh will manage and lead a large and diverse team responsible for managing more than $150 billion in assets.

Her top priorities will be to: (i) maintain the World Bank’s global reputation as a prudent and innovative borrower, investor and risk manager; (ii) manage an extensive client advisory, transaction and asset management business for the Bank; (iii) engage, in her capacity as one of the World Bank’s key representatives, with outside stakeholders including global private sector financial institutions, the financial media and the sovereign debt and reserve managers in client countries, as well as ratings agencies; and (iv) collaborate extensively with the Finance Partners throughout the WBG, including with IFC and MIGA, expanding shared approaches, in particular around innovative financing for development and for key new projects,” the World Bank says.

Oteh’s career has been pioneered by many firsts, including being the first Nigerian woman to be accepted into the Harvard Business School MBA project. She has served on the board of a number of organisations including National Pension Commission (PENCOM) and Asset Management Corporation of Nigeria.

Her career soared to enviable heights when she became the vice president of the African Development Bank and restored its ratings to ‘AAA’ by Standard and Poor.

She has been defined as the “Iron Lady” in respect of her tough decision-making. Oteh responds to that saying, “If leading change, being passionate, resilient and decisive about a great course is what makes me an iron lady, then I proudly raise my hand high to that tag.”