Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), will lead Nigeria’s delegation to the 2025 World Bank and International Monetary Fund (IMF) Annual Meetings in Washington, D.C.
He is stepping in for the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who is reported to be ill and indisposed.
The presidency confirmed the change via a statement from Bayo Onanuga, Special Adviser on Information and Strategy, noting that Cardoso will replace Edun as an “alternate Governor” for the meetings.
The delegation is also set to include Doris Uzoka-Anite, the Minister of State for Finance.
Why This Matters
1. High-Level Platform for Nigeria’s Economic Agenda
The World Bank / IMF Annual Meetings are a pivotal platform for countries to engage with international financial institutions, multilateral lenders, and development partners. Key agenda items typically include:
Global economic outlook and financial stability
Debt sustainability and management
Macroeconomic reforms and policy coordination
Development financing and climate investments
By sending Cardoso, Nigeria signals that it wants to maintain continuity in its voice at these critical discussions, especially amid ongoing economic reforms.
2. Edun’s Health Raises Questions
Wale Edun’s indisposition has sparked concern. Some reports claim he suffered a stroke, while others say he is seriously ill and may struggle to return to office soon.
While his office has not confirmed a stroke, it has acknowledged that he is currently recuperating in Abuja.
This development puts pressure on President Tinubu and his administration regarding the continuity of leadership in economic management.
3. Nigeria’s Key Priorities at the Meeting
Analysts expect Nigeria to spotlight its recent macroeconomic measures, including currency stabilization efforts, inflation control, public debt strategy, and attracting foreign direct investment.
A recent Nigeria Development Update by the World Bank urged the country to audit the national oil company, increase health-sector taxes, and ensure that macroeconomic gains translate into real improvements for citizens.
Also, the timing is significant: Nigeria’s exposure to global financial conditions (interest rates, debt markets, capital flows) is high, so the meetings could influence future support from international partners.
