AMERC Elects Nigeria’s SEC Chief to IOSCO Board

By Modupe Gbadeyanka

Acting Director-General of Nigeria’s Securities and Exchange Commission (SEC), Ms Mary Uduk, has joined the board of the International Organisation of Securities Commissions (IOSCO).

Ms Uduk was elected to the board of IOSCO as a representative of the Africa/Middle-East Regional Committee (AMERC) for a period of two years.

The AMERC comprises securities regulators that are IOSCO members within the Middle East and North Africa as well as sub-Saharan African region.

IOSCO is an association of organisations that regulates the world’s securities and futures markets. Members are typically primary securities and/or futures regulators in a national jurisdiction or the main financial regulator from each country.

The board is its governing and standard-setting body, comprising 31 securities regulators. Mr Ashley Ian Alder, Chief Executive Officer of the Hong Kong Securities and Futures Commission, is the chair of the IOSCO Board.

Ms Uduk made her way to the board after a keenly contested election and Secretary General of IOSCO, Mr Paul Andrews, while announcing the results, stated that, “The voting period for the AMERC Representative position ended on March 20, 2020.

“The committee elected the SEC Nigeria as AMERC Representative to the IOSCO board for the term 2020-2022.”

“I would like to congratulate the SEC Nigeria and Mary Uduk and wish her every success in this role,” he added.

In her response to the announcement, Ms Uduk expressed her sincere gratitude on behalf of SEC Nigeria to all AMERC members for their support in electing the commission to represent AMERC on the board of IOSCO for the 2020 to 2022 term.

“I am indeed honoured for the trust and confidence reposed on SEC Nigeria and wish to restate our commitment to conscientiously represent the region at the IOSCO board and work closely with Ms Nehza Hayat, the incoming AMERC Chair and all other AMERC members on the Board to advance the course of the region.

“Once again, I thank you immensely for your support and kindly accept my highest regards, while I urge everyone to keep safe at this period,” she said.