The Presidency has debunked reports suggesting plans to replace Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, assuring Nigerians that he is recuperating at his Abuja residence after a brief illness.

In a statement issued on Sunday, the Presidency dismissed widespread rumours that the minister had suffered a stroke or had been flown abroad for medical treatment.

Speaking on the matter, Bayo Onanuga, Special Adviser to the President on Information and Strategy, clarified that the 69-year-old minister is receiving adequate medical care in Nigeria.

“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 stated.

The clarification follows mounting speculation that Bola Tinubu’s administration might be considering replacing the finance minister due to his ill health, after reports of his absence from key official engagements surfaced late last week.

Earlier, the Presidency had confirmed that Edun would not be attending the World Bank and International Monetary Fund Annual Meetings in Washington, D.C. Instead, Olayemi Cardoso, Governor of the Central Bank of Nigeria, will lead Nigeria’s delegation to the global economic gathering, which begins Monday, October 14.

Appointed on August 28, 2023, Edun has been a central figure in President Tinubu’s economic team, spearheading fiscal and monetary reform strategies aimed at stabilising the naira, reducing inflation, and boosting investor confidence.

The Presidency assured Nigerians that Edun remains in office and will resume full official duties once he has fully recovered.