Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has been appointed to lead Nigeria’s delegation to the 2025 World Bank and International Monetary Fund (IMF) Annual Meetings in Washington, D.C., starting today, Monday, October 13.
The decision comes as Finance Minister and Coordinating Minister of the Economy, Wale Edun, is indisposed and unable to attend. Cardoso, serving as Nigeria’s Alternate Governor at the Bretton Woods institutions, will fill in for Edun.
In a statement, Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, confirmed that the delegation will also include Minister of State for Finance, Doris Uzoka-Anite, along with other senior government and financial officials.
Key Focus and Agenda
This year’s Annual Meetings will spotlight critical global economic issues, including debt sustainability, inflation pressures, and strategies for inclusive growth and development.
According to the meeting schedule, some of the top sessions include:
- The Development Committee Plenary on October 16.
- The International Monetary and Financial Committee (IMFC) meeting on October 17.
- A series of regional briefings, press conferences, and thematic forums centered on development policy, financial markets, and the global economic outlook.
For Nigeria, the delegation is expected to advocate for enhanced support from multilateral institutions to cushion the social impact of ongoing economic reforms, while highlighting progress in stabilizing the naira, curbing inflation, and strengthening investor confidence.
Context: Edun’s Indisposition
Sources close to the Presidency confirmed that Wale Edun, aged 69, fell ill and is currently recuperating in Abuja. While early speculation suggested he might be flown abroad for treatment, officials clarified that his condition is not critical and that no such move has been made.
Presidential aides described Edun’s illness as “serious but not a stroke,” noting that he remains under medical supervision and will travel abroad only if doctors deem it necessary.
Given Edun’s central role in the Tinubu administration’s economic agenda, the temporary handover to Cardoso underscores the importance of maintaining policy continuity during his recovery.
Significance and Expectations
Cardoso’s leadership of the delegation reflects Nigeria’s commitment to maintaining a strong presence on the global financial stage amid domestic reform efforts. His participation also reinforces the Central Bank’s pivotal role in navigating Nigeria’s macroeconomic challenges.
The meetings present an opportunity for Nigeria to:
- Deepen engagement with development partners and investors.
- Negotiate additional support for fiscal and structural reforms.
- Present progress on monetary stabilization and governance reforms.
- Advocate for equitable global financial policies, including debt relief and climate finance.
