Wale Edun resigns, citing health reasons – Presidency says

Mr. Wale Edun, the former Finance Minister and Coordinating Minister of
the Economy, has tendered resignation from office, citing health reasons.

According to the statement released by the Presidency, the announcement came shortly before President Bola Ahmed Tinubu revealed his replacement on Tuesday.

Edun, who celebrated his 70th birthday on Monday, submitted his resignation letter on the same day.

In his letter, he expressed gratitude for opportunity to serve the administration, contribute to the “Renewed Hope Agenda.”

“It has been a pleasure and privilege to serve your administration and the Renewed Hope Agenda,” his letter read.

“Under your leadership, Nigeria has emerged stronger, more resilient and more internationally respected. I wish you and the administration every
success in the future.”
Before his departure was officially announced by the Office of the Secretary of the Government of the Federation, Edun paid a valedictory visit to President Tinubu at the Villa.

The two held an hour-long discussion, after which Edun indicated his intention to focus on his private businesses.

An accomplished economist and investment banker, Edun previously served as Lagos State Commissioner for Finance from 1999 to 2004 during President Tinubu’s tenure as governor.

His extensive career also includes working at Chase Merchant Bank (later Continental) and the World Bank, where he contributed to economic and financial packages for various countries.
In 1989, he co-founded Investment Banking & Trust Company Limited (now Stanbic IBTC) and later established Denham Management Limited in 1994, which evolved into the Chapelhill Denham Group, where he served as chairman until 2021.

President Tinubu has extended his deep appreciation to both Edun and the former Minister of Housing, Urban Development, Ahmed Musa Dangiwa, for their dedicated service and significant contributions to the administration’s economic reform program.

Taiwo Oyedele has been urged by the President to consolidate ongoing reforms and advance administration’s fiscal and economic objectives as the new Minister of Finance.

Additionally, Muttaqha Rabe Darma has been nominated for housing ministerial position and awaits Senate confirmation.