Cardoso Steps In as Edun Misses Global Finance Summit Due to Illness

The annual meetings of the International Monetary Fund and World Bank — scheduled for October 13–18, 2025, in Washington, D.C. — have begun under a cloud of uncertainty over the health of Nigeria’s Finance Minister. Official sources confirm that Wale Edun is indisposed and will not attend the gathering, while claims persist that he may have travelled abroad for medical care.

On Tuesday, the presidency announced that Central Bank Governor Olayemi Cardoso would lead Nigeria’s delegation in place of Edun, who has taken ill. In a presidential statement, Bayo Onanuga, Special Adviser to the President on Information and Strategy, confirmed Edun’s condition, stating that he was recuperating in Nigeria and that no decision has been made to replace him permanently.

Media reports, citing unnamed insiders and travel records, say Edun left Abuja for Lagos on Monday evening before flying to London via British Airways. But these reports have not been corroborated by official medical disclosures or confirmation from the Ministry of Finance. The presidency continues to maintain that Edun is under the care of local physicians and remains in Nigeria for treatment.

According to official schedules published by the World Bank, major sessions of the Annual Meetings include the Development Committee Plenary on October 16 and the International Monetary and Financial Committee meeting on October 17. Nigeria’s leadership in Washington is now being shouldered by Cardoso, who will also be accompanied by the Minister of State for Finance, Doris Uzoka-Anite, according to the Aso Rock press release. (State House)

Edun, appointed in August 2023, has played a central role in the Tinubu government’s economic reform agenda, including subsidy removal, unified foreign exchange policy, and efforts to stabilise public finances. His absence at a crucial global forum occurs at a moment when Nigeria must engage international partners on issues such as debt sustainability, fiscal support, and investor confidence.

Observers caution that in the absence of clarity on Edun’s condition and whereabouts, speculation may amplify the sense of policy uncertainty. For now, the verifiable facts are: Edun is unwell and absent from the Annual Meetings; Cardoso leads Nigeria’s representation; and conflicting reports regarding foreign medical travel remain unconfirmed.

As the week’s meetings proceed, Business Times will continue to monitor statements from the Ministry of Finance, the Presidency, and reliable sources to provide further updates on Edun’s health and Nigeria’s posture at this key global finance summit.