The Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, may have been stripped of critical powers in the nation’s financial activities in the wake of President Bola Tinubu’s latest directive.
The president’s decision to strip Edun of certain responsibilities was contained in a State House memo to the Secretary to the Federal Government, Senator George Akume, dated December 4, 2025.
The memo is titled: “Re: Updated Responsibilities of the Honourable Minister of State for Finance” and signed by the Private Secretary to the President, Mr. Damilotun Aderemi, was, according to reports, personally delivered by the SGF, Senator George Akume, to the Minister of Finance.
The memo read: “I write on the directive of His Excellency, President Bola Ahmed Tinubu, GCFR, to forward the attached document on the above subject matter to you and to request that you issue a necessary memorandum implementing same as updated responsibilities of the Honourable Minister of State finance.”
The attached document, referenced supra, entitled “UPDATED Responsibilities of the Honourable Minister of State for Finance” reads in extenso: “The office will be specifically responsible for domestic finances of the Federation including revenue generation, revenue distribution and all domestic debt management.
“Additional specific mandates and oversight: in addition to the existing mandate of the office: (a) Home Finance, (b) Technical Services, (c) Cash Management, (d) Revenue Sharing amongst the tiers of Government and Federation Account, (e) All Domestic Debt Management, (f) Nigerian Customs Service, (g) Development Finance.”
The directive is meant to take immediate effect.
There are insinuations that the minister is displeased with the development, but that claim could not be independently verified.