The Presidency has said that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, is indisposed and will not be attending the World Bank and International Monetary Fund Annual Meeting in Washington, DC, which opens on Monday, October 13.
Edun is reportedly ill and is currently receiving treatment in an undisclosed location in Abuja.
Bayo Onanuga, Special Adviser to the President (Information and Strategy), in a statement, said Olayemi Cardoso, the Governor of the Central Bank, who is already in the United States, will head Nigeria’s delegation at the World Bank event.
“Cardoso, as the alternate Governor, replaces the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who is indisposed”, stated Onanuga who also noted that the Nigerian team also comprise the Minister of State for Finance, Doris Uzoka-Anete.
According to the World Bank, key elements of the Annual Meetings include the Development Committee Plenary session on October 16 and the International Monetary and Financial Committee meetings on October 17.
Other featured events include regional briefings, press conferences, and fora focused on international development, the global economy, and financial markets.
Unconfirmed report has said the minister is receiving emergency medical treatment
A top government source who confirmed the development described Edun’s condition as “very serious”, though noting that he is currently receiving intensive medical care overseas.
The source further disclosed that President Bola Tinubu has commenced discreet consultations to identify a potential replacement for the minister, given the gravity of his health condition.
“President Bola Tinubu is looking for a replacement urgently,” the source stated, citing the mounting pressure on fiscal and foreign exchange management. “The paralysis is severe. May God guide us all. This running after dollars is another matter.”
According to the report, Edun’s deteriorating health has been linked to exhaustion and stress resulting from his demanding schedule and poor lifestyle habits. Senior officials reportedly endure long working hours, irregular meals, and inadequate rest, often working late into the night and resuming duties after only a few hours of sleep.
Meanwhile, President Tinubu departed Abuja on Sunday, October 12, for Rome, Italy, to participate in the Aqaba Process Heads of State and Government Meeting, which will focus on security challenges in West Africa.
The Aqaba Process—launched in 2015 by King Abdullah II of Jordan—is a counter-terrorism initiative co-chaired by Jordan and Italy. The meeting will convene Heads of State, intelligence chiefs, and security officials from African countries, as well as representatives from international organisations, to address regional security threats such as terrorism in the Sahel and maritime piracy in the Gulf of Guinea.
Appointed on August 21, 2023, Finance Edun has been a central figure in the Tinubu administration’s economic management team. A long-time associate of the President, he previously served as Commissioner for Finance in Lagos State between 1999 and 2004.
Since assuming office, Edun has overseen fiscal policy direction, economic coordination, and financial sector reforms. His temporary absence is expected to have implications for ongoing fiscal initiatives and budget preparations, especially as he was actively involved in budget discussions with the Senate as recently as Thursday.
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