THE Presidency has dismissed growing rumours about the health of the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, insisting that the minister is recuperating at his home in Abuja and remains firmly in charge of his portfolio.
Multiple sources within the Presidency confirmed to News Point Nigeria on Sunday that the 69-year-old minister is receiving medical care in Nigeria and has not been flown abroad, contrary to widespread speculation suggesting that he suffered a stroke or was being replaced.
A senior government official, who spoke on condition of anonymity because he was not authorised to comment publicly, described the minister’s condition as “a bit serious but not critical.”
“Yes, he’s indisposed. He’s sick, which is a bit serious, but it’s not stroke,” the official clarified.
“As I’m talking to you, he’s in his house. He has not been flown anywhere. Of course, he might seek medical attention elsewhere if doctors say that is necessary. So, it’s not true that he has a stroke.”
Another source close to the Finance Ministry confirmed that Edun is currently being attended to by Nigerian doctors who are closely monitoring his progress.
“He’s being attended to by Nigerian doctors. They’re still monitoring him. If he needs medical care outside Nigeria, he will go. But he’s still at home,” the official added, stressing that there are no plans to replace him.
The clarification followed social media reports and an online publication by The Whistler, which claimed that President Bola Ahmed Tinubu was considering appointing a new Finance Minister following Edun’s reported illness.
Presidential spokesman, Bayo Onanuga also described the rumours as baseless, reaffirming that Edun is recuperating and remains active in his duties.
“Yes, he’s indisposed. Wale Edun is about 69 years old. He suddenly fell ill. As we are talking, he is in Nigeria. He is recuperating. He’s around,” Onanuga told News Point Nigeria on Sunday evening.
The Presidency’s clarification comes hours after it announced that Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, would lead Nigeria’s delegation to the World Bank and International Monetary Fund (IMF) Annual Meetings in Washington, D.C., in place of Edun.
According to the official communication from the State House, Cardoso, who serves as an alternate governor at the IMF and World Bank, would represent the country at the high-level meetings, which begin on Monday, October 14, 2025.
Edun, who was appointed on August 28, 2023, has been instrumental in spearheading President Tinubu’s economic reforms particularly the administration’s efforts to stabilise the naira, curb inflation, and attract foreign investment.
Before joining the Federal Executive Council, Edun served as Commissioner for Finance in Lagos State during Tinubu’s tenure as governor between 1999 and 2004.
As of press time, the Federal Ministry of Finance has yet to issue an official statement on the minister’s health status, though Presidency sources insist he remains active in policy coordination from his residence and is expected to resume full public duties soon.