Abuja, Nigeria – October 13, 2025
The Presidency has denied reports suggesting that Minister of Finance and Coordinating Minister of the Economy, Wale Edun, is to be replaced, stating that there are no such plans under consideration by President Bola Tinubu.
In a statement released on Sunday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed that the minister is recuperating at his residence in Abuja after falling ill. He dismissed widespread rumours that Edun had suffered a stroke or had been flown abroad for medical treatment, emphasizing that the minister is receiving care locally.
“The Minister is currently in Abuja, recovering and receiving medical attention. He has not been flown abroad, and contrary to some media reports, he is not being considered for replacement,” Onanuga said.
Speculation about Edun’s health intensified late last week, with some reports claiming the President was weighing options for a new finance minister. The rumours followed confirmation from the Presidency that Edun would not be attending the 2025 Annual Meetings of the World Bank and International Monetary Fund (IMF) in Washington, D.C.
In his absence, Central Bank Governor Olayemi Cardoso is leading Nigeria’s delegation to the high-level meetings, which begin Monday, October 14, and gather finance ministers, central bankers, and economic experts from across the globe.
Wale Edun, who was appointed on August 28, 2023, has been a key figure in President Tinubu’s economic team. He has led major policy efforts aimed at stabilizing the naira, curbing inflation, and attracting foreign investment as part of the administration’s broader fiscal reform agenda.