Nigeria’s minister of finance and coordinating minister of the economy, Wale Edun, has been hospitalised over an undisclosed ailment.
Mr Edun told Peoples Gazette he was still in Abuja on Sunday night, although other outlets reported he had been flown abroad.
According to a press release issued by presidential spokesman Bayo Onanuga, the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, will now lead Nigeria’s delegation to the 2025 World Bank and International Monetary Fund (IMF) Annual Meetings in Washington, D.C., following Mr Edun’s sudden illness.
“The Governor of the Central Bank, Mr Olayemi Cardoso, will lead Nigeria’s delegation to the World Bank and International Monetary Fund Annual Meeting in Washington DC, which opens on Monday, October 13,” the statement read. “Cardoso, as the alternate Governor, replaces the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who is indisposed.”
The presidency did not disclose the nature of the minister’s ailment or when he is expected to return to work.
Mr Edun, a longtime ally of President Bola Tinubu and one of his most influential cabinet members, has been a key figure in the administration’s economic reform agenda, including the removal of fuel subsidies and foreign exchange liberalisation.
His illness comes at a sensitive time for the government, as Nigeria faces mounting economic challenges marked by rising inflation, a weakening naira, and public discontent over the cost of living.
Mr Cardoso will be accompanied to Washington by the minister of state for finance, Doris Uzoka-Anite. The Nigerian delegation is expected to participate in discussions with global financial leaders on debt management, foreign investment, and development financing.
The presidency said the meetings will include “the Development Committee Plenary session on October 16 and the International Monetary and Financial Committee meetings on October 17,” alongside other briefings and fora focused on international development and the global economy.
Mr Onanuga, who signed the statement, said the substitution of leadership was a routine adjustment to ensure Nigeria’s representation at the high-level meetings was not affected.
Mr Edun, who served as Lagos State commissioner for finance under Mr Tinubu’s governorship, was appointed to the federal cabinet in 2023 and has since been at the forefront of major fiscal policy shifts, including efforts to unify exchange rates and attract foreign capital.
Neither the presidency nor the ministry of finance has provided updates on when the minister will return to full duties.
It is however believed that search for a new Finance Minister has begun in view of the critical portfolio Edun holds as well as the nature of the economy right now.
