The Presidency has reassured Nigerians that there is “no cause for alarm” over the health of Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, as he continues to recuperate.
A top presidential source told BusinessDay on Wednesday that, contrary to circulating reports, Edun was not flown abroad but traveled himself for medical attention, and is not incapacitated as some media outlets claimed.
“He was not flown. He traveled himself two days ago,” the source said, emphasizing that there is no need to replace him.
Earlier reports had suggested that Edun, a seasoned economist and former Lagos State Commissioner for Finance, was critically ill, prompting speculation that President Bola Tinubu was searching for a replacement.
These claims were fueled in part by the announcement that Oluyemi Cardoso, Governor of the Central Bank of Nigeria (CBN), would lead Nigeria’s delegation to the Annual World Bank and International Monetary Fund (IMF) Meetings in Washington, D.C., replacing Edun temporarily.
The Nigerian delegation will also include the Minister of State for Finance, Doris Uzoka-Anete, while Edun continues his recovery abroad.
Presidential spokesman Bayo Onanuga stated that although the minister had been indisposed, he is recovering well, and dismissed all claims of incapacitation. Another official corroborated that Edun traveled out of the country on his own, highlighting that the minister remains actively involved in economic planning.
Edun has been widely credited for guiding Nigeria’s economy through some of its most challenging periods since President Tinubu assumed office in May 2023, including reforms in oil, exchange rates, and fiscal policy.
The World Bank Annual Meetings will feature key sessions on October 16 and 17, including the Development Committee Plenary and the International Monetary and Financial Committee meetings, alongside regional briefings and forums on global development, financial markets, and the international economy.
