The Presidency on Sunday confirmed that Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has fallen ill and will not attend the forthcoming World Bank and International Monetary Fund (IMF) Annual Meetings in Washington, DC.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a statement, said the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, will lead Nigeria’s delegation to the meetings scheduled to begin on Monday, October 13.
Onanuga explained that Cardoso would represent Nigeria “as the alternate Governor,” in place of Edun, who is “indisposed.”
However, reliable government sources said ppl that Edun’s condition is more critical than officially disclosed. The minister was reportedly flown abroad over the weekend after suffering a stroke that left him partially paralysed.
A senior presidency source, who spoke in confidence, described the situation as “very serious,” adding that the 63-year-old minister is receiving intensive medical care overseas.
“It’s very serious. He may survive, but he can’t get back to work again,” the source said, revealing that Edun’s paralysis was a result of a severe stroke.
According to the source, President Bola Tinubu has begun discreet consultations to identify a possible replacement for the embattled finance minister amid growing economic and exchange rate crises.
“The President is urgently considering potential replacements,” the insider added. “This running after dollars and mounting economic pressure have taken a toll. May God guide us all.”
Insiders linked Edun’s health complications to extreme work-related stress, sleepless nights, and an intense workload since assuming office in August 2023.
Security officials were said to have confirmed his condition, with sources within the Department of State Services (DSS) describing him as “extremely ill.”
Edun, a close ally of President Tinubu since their Lagos days, served as Commissioner for Finance between 1999 and 2004 during Tinubu’s administration in Lagos State.
He was appointed Minister of Finance and Coordinating Minister of the Economy on August 21, 2023, and has since spearheaded major fiscal reforms and budgetary coordination efforts.
His absence comes at a critical time as the government prepares for the 2026 budget presentation and continues to grapple with inflation, naira volatility, and rising public debt.
Meanwhile, President Tinubu on Sunday departed Abuja for Rome, Italy, to attend the Aqaba Process Heads of State and Government Meeting convened to address worsening security challenges in West Africa.
The high-level summit, co-chaired by Jordan’s King Abdullah II and the Italian government, will begin on October 14 and will focus on the growing nexus between terrorism, organised crime, and maritime insecurity in the Gulf of Guinea and the Sahel region.
Edun’s reported health crisis adds another layer of uncertainty to Tinubu’s economic team, which has faced mounting criticism over the country’s struggling economy and persistent foreign exchange crisis.
Despite showing signs of fatigue, Edun was seen in public last Thursday when he appeared before the Senate during budget consultations — his last known public engagement before the health emergency.
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