Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, will lead Nigeria’s delegation to the 2025 Annual Meetings of the World Bank and the International Monetary Fund (IMF) opening on Monday, October 13, in Washington, D.C.
Cardoso, who serves as Nigeria’s Alternate Governor at both institutions, will represent the country in place of Finance Minister and Coordinating Minister of the Economy, Wale Edun, who is currently indisposed.
In a statement signed by Bayo Onanuga, Special Adviser to the President (Information and Strategy), the Presidency confirmed that “Mr. Cardoso will lead the Nigerian delegation as alternate Governor, with the Minister of State for Finance, Doris Uzoka-Anite, also participating.”
No Plan to Replace Wale Edun, Presidency Clarifies
Amid speculation over Edun’s health and absence from recent official engagements, the Presidency has dismissed rumours of any plan to replace him as the country’s chief economic coordinator.
According to the clarification, Wale Edun remains the substantive Minister of Finance and Coordinating Minister of the Economy, and the temporary delegation arrangement “does not amount to any leadership change or replacement.”
Senior government sources reaffirmed that Mr. Edun is expected to resume duties shortly after the meetings, maintaining oversight of Nigeria’s fiscal and economic policy agenda.
Nigeria’s Delegation to Key Global Economic Meetings
The Nigerian delegation will participate in high-level sessions alongside global finance ministers, central bank governors, and private-sector leaders.
According to the World Bank, the Development Committee Plenary will hold on October 16, while the International Monetary and Financial Committee (IMFC) meeting takes place on October 17.
Other sessions include regional briefings, bilateral discussions, and thematic fora on international development, global economic recovery, and financial market stability.
What to Expect: Nigeria’s Priorities in Washington
Nigeria’s delegation is expected to focus on:
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Securing support for domestic fiscal reforms and monetary stability
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Engaging multilateral partners on debt sustainability and foreign investment inflows
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Strengthening cooperation on infrastructure and energy transition financing
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Showcasing Nigeria’s progress on foreign exchange unification and macroeconomic policy alignment
Observers note that Cardoso’s leadership of the delegation underlines the Central Bank’s pivotal role in restoring investor confidence and anchoring Nigeria’s economic stabilization programme.
The Broader Context- Nothing More than a Bed Rest
The 2025 World Bank-IMF Meetings are taking place against the backdrop of global inflationary pressures, rising sovereign debt, and sluggish post-pandemic growth. African countries, including Nigeria, are pushing for more equitable access to concessional finance and representation in global economic governance.
Analysts believe Nigeria’s participation is an opportunity to reaffirm its commitment to fiscal discipline and monetary reform, particularly following exchange rate liberalisation and efforts to attract foreign portfolio investments.
By appointing Olayemi Cardoso to head the delegation, the Presidency underscores continuity in Nigeria’s economic management and the strong collaboration between fiscal and monetary authorities. Statements from the presidency suggests the Finance Minister remains firmly in office- the arrangement for Governor Cardoso to represent Nigeria is purely procedural and temporary. A source in the Presidency that Arbiterz spoke to insists that allegations that the minister has suffered a serious and potentially permanent deterioration of his health is nothing but “wild speculation”.
The meetings in Washington are expected to shape global economic policy directions for the coming year, with Nigeria’s delegation participating in key sessions that could influence access to development finance and investment partnerships.
