The Board of Directors of Seplat Petroleum Development Company Plc has announced the appointment of a former director general of the Securitie
Also appointed alongside Ms Oteh is Xavier Rolet, a seasoned entrepreneur. Both appointees would be joining the Seplat Board with effect from October 1, according to a disclosure notice by the energy company. The disclosure, made to the Nigerian Stock Exchange, was signed by Edith Onwuchekwa, the company secretary and chief governance compliance officer.
Oteh, a seasoned C-suite executive with several years of experience operating at the highest levels at major multilateral agencies, global financial institutions and in Government, has been an academic scholar at the University of Oxford since January 2019 and a member of the London Stock Exchange Africa Advisory Group since January 2020. Ms. Oteh served as Treasurer and Vice President of the World Bank from 2015 to 2018.
As Treasurer, she led a global team that managed the World Bank’s $200 billion debt portfolio as well as an asset portfolio of $200 billion for the World Bank Group and several public sector clients including 65 central banks. She was responsible for a $600 billion derivatives portfolio used for hedging and risk management purposes. She had oversight over a treasury operation with an annual cash flow of $7 trillion and led an extensive public sector financial advisory business, pioneering a number of innovative solutions such as the world’s first ever pandemic bond in 2017 and blockchain public bond in 2018. Ms. Oteh was the Director General of the Securities and Exchange Commission (“SEC”) Nigeria from 2010 to 2015.
As Director General of Nigeria’s apex capital market regulator, she was responsible for the regulation of Nigeria’s capital markets, including the Nigerian Stock Exchange and led the rebuilding of the capital markets after the global financial crisis. She also served on Nigeria’s Economic Management team, chaired by the Nigerian President.
Prior to SEC Nigeria, she worked at the Africa Development Bank for 17 years in a variety of roles including Group Vice President, Corporate Services (2006 to 2009) and Group Treasurer (2001 to 2006). Her career started in 1985 at Centre Point Investments Limited, a Nigerian investment bank.
“She was also named the 2014 Ai Capital Market Personality of the Year, and among New African’s “100 Most Influential Africans of 2015”. In 2018, she was honoured as the Ai Global Institutional Investment Personality of the Year, and in 2020, was named both the top 100 people in the UK of African heritage, by Power list and Africa top 50 women by Forbes.”
On his part, Rolet is an experienced entrepreneur, named as one of the 100 Best CEOs in the World in the 2017 Harvard Business Review. In his decade at the helm of the London Stock Exchange, the LSE’s market valuation rose from £800m to more than £15bn, transforming it into one of the world’s largest exchanges by market capitalization.
He is currently the Chairman, Board of Directors at Phosagro PJSC, a member of the Board of Directors of the Saudi Stock Exchange Tadawul as an appointee of the Public Investment Fund, and an Expert Adviser to the Shanghai Institute of Finance for the Real Economy.
