Photo File:Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun.

The Presidency has debunked reports suggesting that the Coordinating Minister of the Economy and Minister of Finance, Wale Edun, is seriously ill and that President Bola Tinubu is seeking his replacement.

Reports circulating on several online platforms had claimed that Edun was bedridden and unable to continue in office, prompting the alleged search for a new finance minister. The publications further linked their claims to the announcement that Central Bank Governor, Oluyemi Cardoso, would lead Nigeria’s delegation to the 2025 World Bank and International Monetary Fund (IMF) Annual Meetings scheduled to begin on October 13 in Washington, D.C.

Edun, a veteran economist and banker who previously served as Lagos State Commissioner for Finance, has been instrumental in shaping Nigeria’s fiscal and economic reforms under the Tinubu administration.

Reacting to the speculation, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, dismissed the reports as misleading, confirming that the Minister was only “indisposed” and currently recovering.

In a telephone chat with BusinessDay, Onanuga clarified that there was no plan to replace Edun, stating:

“Contrary to the reports on social media, the Minister is not incapacitated. Like I said before, he is currently recovering.”

Onanuga further explained in a statement on Sunday that Cardoso, as the alternate governor representing Nigeria at the World Bank and IMF, would lead the delegation in Edun’s absence. The delegation will also include the Minister of State for Finance, Doris Uzoka-Anite.

According to the World Bank, highlights of the annual meetings include the Development Committee Plenary on October 16 and the International Monetary and Financial Committee session on October 17. Other key events will feature regional briefings, press conferences, and forums focused on global economic and financial developments.

The Presidency reaffirmed that Edun remains in charge of his ministerial portfolio and is expected to resume full duties upon recovery.