Edun Resigned At 70 On Health Grounds, Presidency Clarifies

Presidency says Wale Edun resigned at 70 due to ill health, not sacked, as Tinubu reshuffles cabinet.

The Presidency on Wednesday clarified that former Finance Minister and Coordinating Minister of the Economy, Mr. Wale Edun, and his Housing and Urban Development counterpart, Ahmed Musa Dangiwa, were not sacked from the cabinet of President Bola Tinubu.

Rather, it said both men voluntarily resigned from their positions.

Presidential spokesperson, Bayo Onanuga, in a statement, explained that Edun tendered his resignation citing health reasons, shortly after clocking 70 on Monday.

According to the statement, Edun, who has battled recent ill health, submitted his resignation letter on his birthday, thanking the President for the opportunity to serve.

“It has been a pleasure and privilege to serve your administration and the Renewed Hope Agenda,” Edun wrote.

“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 the official announcement of his departure on Tuesday, Edun held a valedictory meeting with President Tinubu at the Presidential Villa, where both men engaged in a one-hour discussion. He thereafter exited office to focus on his private business interests.

Onanuga also confirmed that Dangiwa similarly resigned and expressed appreciation to the President for the opportunity to serve in the Federal Executive Council.

President Tinubu, the statement added, expressed deep appreciation to both former ministers for their service and contributions to the administration’s economic reform agenda, wishing them success in their future endeavours.

In the wake of the changes, the President has urged the new Minister of Finance, Taiwo Oyedele, to consolidate ongoing reforms and advance fiscal and economic objectives with renewed discipline and innovation.

Tinubu is also expected to forward the name of a new ministerial nominee for Housing, Muttaqha Rabe Darma, to the Senate for confirmation. Darma, like Dangiwa, hails from Katsina State.

Dangiwa, an architect, previously served as Managing Director of the Federal Mortgage Bank from 2015 to 2022, as well as Secretary to the Katsina State Government, before his appointment as minister in August 2023.

Edun, an economist and investment banker, served as Lagos State Commissioner for Finance between 1999 and 2004 during Tinubu’s tenure as governor. He also worked at Chase Merchant Bank before joining the World Bank in 1986, where he handled economic and financial packages across Latin America and the Caribbean.

He later co-founded Investment Banking & Trust Company Limited (now Stanbic IBTC) in 1989 and went on to establish Denham Management Limited, now part of Chapelhill Denham Group, where he served as chairman from 2008 to 2021.