Nigeria’s Finance Minister Wale Edun Flown Abroad After Suffering Stroke

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reportedly been flown abroad for emergency medical treatment after suffering a stroke, multiple government sources confirmed on Sunday.

The development, which has sparked concern within the Presidency and the economic team, comes amid growing pressure on the administration over foreign exchange volatility and the rising cost of living.

According to a senior official who spoke to SaharaReporters, Edun’s condition is “very serious,” with reports indicating that he has suffered partial paralysis as a result of the stroke. “It’s very serious. He may survive, but he can’t get back to work again,” the source said.

The source added that President Bola Tinubu has begun discreet consultations to find a replacement for Edun, who plays a central role in coordinating the country’s fiscal and economic strategy. “President Tinubu is looking for a replacement urgently,” the official revealed. “The paralysis is severe. May God guide us all. This running after dollars is another matter.”

Insiders attribute Edun’s deteriorating health to exhaustion, intense workload, and poor rest habits, noting that senior government officials often work with little sleep and irregular meals. “Many of them hardly rest,” the source said. “They work into the early hours and resume again after just a few hours of sleep.”

Meanwhile, the Presidency on Sunday confirmed that Edun is “indisposed,” and announced that Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, will now lead Nigeria’s delegation to the World Bank and International Monetary Fund (IMF) Annual Meetings holding in Washington D.C. from October 13.

A statement signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy, said: “Cardoso, as the alternate Governor, replaces the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who is indisposed.”

President Tinubu also departed Abuja for Rome, Italy, on Sunday, where he is expected to participate in the Aqaba Process Heads of State and Government Meeting, focusing on counter-terrorism and security challenges in West Africa. The forum, launched in 2015 by Jordan’s King Abdullah II and co-chaired by the Italian government, brings together leaders, intelligence chiefs, and multilateral organisations to address emerging security threats across the Sahel and Gulf of Guinea.

Edun, a long-time ally of President Tinubu, was appointed Minister of Finance and Coordinating Minister of the Economy in August 2023. He had earlier served as Commissioner for Finance in Lagos State between 1999 and 2004 during Tinubu’s tenure as governor.

Since his appointment, Edun has spearheaded key fiscal reforms, including foreign exchange unification and subsidy removal adjustment strategies, while overseeing budget planning and coordination among major financial institutions.

His sudden health setback, however, raises concerns about continuity in economic management, coming just days after he attended budget discussions with the Senate. Analysts warn that his absence could disrupt ongoing fiscal reforms and delay preparations for the 2026 budget cycle.