By Chidimma Okwara,
The Nigerian Presidency has confirmed that the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, is currently indisposed, following a weekend of swirling reports regarding his health. The clarification was issued after an online news platform claimed the Minister had suffered a stroke, was flown abroad for urgent treatment, and that President Bola Tinubu was already seeking an urgent replacement.
While confirming the Minister’s illness, the Presidency firmly refuted the more alarming details of the reports.
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Presidency Clarifies Minister’s Condition
In a statement released on Sunday, October 12, 2025, the Presidency, through the Special Adviser to the President on Information and Strategy, Bayo Onanuga, announced that Mr. Edun would be unable to attend the crucial World Bank and International Monetary Fund (IMF) Annual Meetings in Washington, D.C.
“Cardoso, as the alternate Governor, replaces the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who is indisposed,” the statement read, confirming the Minister’s absence from the international gathering. The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, will now lead the Nigerian delegation.
However, a senior government official, speaking anonymously to the press, directly addressed the most sensational parts of the report.
“Yes, he’s indisposed. He’s sick, which is a bit serious, but it’s not a stroke,” the source said, adding emphatically, “He is in his house; he has not been flown anywhere. There are no plans to replace him.” Mr. Onanuga also confirmed that the Minister is recuperating at his residence in Abuja and is receiving medical attention within Nigeria.
The news of the Finance Minister’s ill health comes at a critical time for Nigeria, as the government navigates a complex period of economic reforms, including efforts to stabilize the Naira, control inflation, and attract foreign investment.
Mr. Wale Edun, a veteran economist and investment banker who previously served as Lagos State Commissioner for Finance, has been a central figure in President Tinubu’s economic team since his appointment in August 2023. His temporary incapacitation has inevitably led to concerns regarding the impact on ongoing fiscal policy implementation and the looming budget process.
Despite the confirmation of his illness, the Presidency has moved to quell anxieties by stating that there are no immediate plans for a cabinet reshuffle. The delegation to the World Bank/IMF meetings, now led by CBN Governor Cardoso, is also expected to include the Minister of State for Finance, Dr. Doris Uzoka-Anite, ensuring Nigeria’s representation at the global financial events remains strong.
As the Minister of Finance recuperates, the nation’s focus will remain on the progress of the economic reforms and updates on Mr. Edun’s recovery.
