The Presidency has confirmed that Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, is currently ill and indisposed.

This announcement confirms an exclusive report by SaharaReporters that Edun is critically ill after suffering a stroke.

A top government source confirmed the development on Sunday, describing Edun’s condition as “very serious,” though adding that he is receiving intensive medical attention.

“It’s very serious. He may survive, but he can’t get back to work again,” the source told SaharaReporters, disclosing that the minister suffered severe paralysis as a result of the stroke.

The source further revealed that President Bola Tinubu has begun discreet consultations to identify a possible replacement for Edun following his health challenge.

Meanwhile, a Sunday statement signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy, confirmed that Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria, will lead the country’s delegation to the World Bank and International Monetary Fund Annual Meetings in Washington, DC, starting Monday, October 13, in place of Wale Edun.

According to Onanuga, “Cardoso, as the alternate Governor, replaces the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who is indisposed.”

The statement added that the Nigerian delegation will also include the Minister of State for Finance, Doris Uzoka-Anete.

Meanwhile, President Tinubu is reportedly exploring options to appoint a replacement for Wale Edun.

“President Bola Tinubu is looking for a replacement urgently,” the source said, hinting at the mounting pressure surrounding recent economic and foreign exchange challenges. “The paralysis is severe. May God guide us all. This running after dollars is another matter.”

According to the source, Edun’s deteriorating health may be linked to exhaustion and stress resulting from his demanding schedule and poor lifestyle habits.

The source noted that senior officials reportedly work with little rest, irregular meals, and minimal sleep, often staying up until the early hours of the morning and resuming work after only a few hours of rest.

According to the source, Edun’s condition was confirmed by contacts within security circles, including the Department of State Services (DSS), who described him as “extremely ill.”

Meanwhile, President Tinubu departed Abuja on Sunday, October 12, for Rome, the capital of Italy, to participate in the Aqaba Process Heads of State and Government Level Meeting, with special focus on the security crisis in West Africa.

The meeting, which will begin on October 14, will bring together Heads of State and Government, senior intelligence and military officials from African countries, and representatives of intergovernmental and non-governmental organisations to discuss the evolving security challenges in West Africa.

The Aqaba Process Meeting is a counter-terrorism initiative launched by King Abdullah II of Jordan in 2015. It is co–chaired by the Hashemite Kingdom of Jordan and the Italian Government.

It recognises the complex security challenges confronting West Africa, including the expansion of terrorist networks, the growing crime-terror nexus, and the increasing overlap between land-based terrorism in the Sahel and the maritime piracy in the Gulf of Guinea.

Edun was appointed by President Tinubu as Nigeria’s Minister of Finance and Coordinating Minister of the Economy on August 21, 2023. Their professional relationship dates back to Tinubu’s tenure as Governor of Lagos State, where Edun served as Commissioner for Finance from 1999 to 2004.

He has overseen Nigeria’s fiscal policy, economic planning, and coordination of financial institutions.

Edun has been a central figure in Tinubu’s economic team since his appointment in August 2023; therefore, his temporary exit could impact ongoing fiscal reforms and budget planning.

Despite health concerns, he was recently involved in budget discussions with the Senate on Thursday.