Why Tinubu Removed Wale Edun, Dangiwa
The decision by President Bola Ahmed Tinubu to remove Mr. Wale Edun as the minister of finance and coordinating minister of the economy has stirred widespread debate across Nigeria’s policy, business, and political circles, raising fundamental questions about why he was actually removed, the direction of fiscal policy, the internal dynamics of government, and the broader health of the economy.
The President had yesterday removed Edun and the minister of housing and urban development, Arc. Ahmed Musa Dangiwa, from office in a minor cabinet reshuffle.
In Edun’s place, the president appointed Prof. Taiwo Oyedele barely one month after his appointment as the minister of state for finance, a move many analysts say had long been anticipated, even if the timing caught some observers off guard.
The cabinet reshuffle, confirmed in a memo issued by the Office of the Secretary to the Government of the Federation, marks one of the most consequential changes in the economic management team since the beginning of the administration.
While official communication offered little detail beyond the announcement, a combination of insider accounts, expert commentary, and policy signals over the past year had begun to paint a clearer picture of the factors that may have led to Edun’s exit.
For many close watchers of the government, Edun’s removal did not come as a surprise. Sources within the Presidency suggest he was replaced mainly on health grounds.
It was also gathered that this is not the first time he has left Tinubu’s cabinet on health grounds. During Tinubu’s second term as governor of Lagos State, Edun also resigned from his cabinet in February 2004, barely one year into it, on health grounds.
Also, in October 2025, he took ill and had to be flown abroad for treatment. Sources close to the presidency said he had just turned 70 and the job was obviously taking a major toll on his health.
“It’s not uncommon for health to become a factor in high-pressure roles like that,” a senior economist said. “But in a system where outcomes are everything, any sign of slowdown can quickly become an issue.”
However, Dangiwa’s exit was attributed to the President’s dissatisfaction with his performance in the Ministry. Sources said the President wanted a more aggressive delivery of his housing programme nationwide.
UACN lists N54.03bn bond on NGX
UAC of Nigeria Plc has listed its N54.03bn Series 1 bond on Nigerian Exchange Limited, underscoring the Exchange’s growing profile as a multi-asset platform and providing the company with access to long-term capital.
The seven-year senior unsecured instrument, admitted to trading on 17 April 2026, carries a fixed coupon of 17.35 per cent and was issued under UACN’s N150bn multi-instrument programme.
Priced at par with 54.03 million units at N1,000 each, the bond will mature on 15 December 2032. Similarly, investors will receive semi-annual coupon payments on 15 June and 15 December throughout the tenor. The offer closed in December 2025.
The structure features a four-year moratorium on principal repayment, after which amortisation will commence, with an option for early redemption at the issuer’s discretion.
Commenting on the listing, Vice Chairman of Highcap Securities Ltd, David Adonri, said, “What stands out is the continued ability of issuers like UAC of Nigeria Plc to access long-term funding.
This reflects both the depth of the domestic debt market and the growing relevance of NGX as a credible platform for capital raising across asset classes.”
The transaction was jointly arranged by Stanbic IBTC Capital Limited, Chapel Hill Denham Advisory Limited, Quantum Zenith Capital & Investments Limited, and FCMB Capital Markets Limited, with Chapel Hill Denham Securities Limited acting as stockbroker. Stanbic IBTC Trustees Limited served as trustee, while Africa Prudential Plc was appointed registrar.
This listing highlights NGX’s continued evolution beyond equities, strengthening its fixed income segment and further reflecting its profile as a more diversified, multi-asset marketplace.
NCDC launches contact tracing after C’River COVID-19 case
The Nigeria Centre for Disease Control and Prevention and the Cross River State Government have confirmed a single case of COVID-19 in the state, activating emergency response measures while assuring residents there is no cause for panic.
In a statement released on Tuesday night, the NCDC said the confirmed case had been isolated and was being managed in line with national treatment guidelines.
“The patient is in stable condition and responding to care,” the agency stated.
Providing further details earlier in Calabar, the Commissioner for Health, Henry Ayuk, disclosed that the case involved a 53-year-old Chinese expatriate working in a company in Akamkpa Local Government Area.
“The confirmed case involves a 53-year-old Chinese expatriate who arrived in Nigeria about a month ago and works in a company at Akamkpa Local Government Area,” Ayuk said.
He explained that the patient initially presented mild symptoms and was later admitted to the University of Calabar Teaching Hospital, where samples were collected and the infection confirmed.
“The patient is currently receiving care at the state’s designated isolation and treatment centre and is responding well to treatment,” he added.
The commissioner noted that the government delayed public announcement until diagnostic protocols were completed to avoid misinformation, while reassuring residents of their safety.
“The state is safe. There is no cause for alarm, but we must all play our part in preventing the spread,” Ayuk said.
The NCDC noted that, following confirmation, coordinated response measures were immediately activated in collaboration with the state Ministry of Health and development partners.
“Following confirmation of the case, the Cross River State Ministry of Health, in coordination with NCDC and with support from partners, has activated response measures, including contact tracing, surveillance, and infection prevention and control,” the statement read.
Health authorities said all identified contacts were being actively monitored, with no indication of further spread.
“All identified contacts are being followed up appropriately, and there is no evidence at this time of widespread transmission,” the NCDC added.
Ogun shuts market over poor sanitation
The Ogun State Waste Management Authority has shut down the Ijebu-Mushin market in Ijebu East Local Government Area over allegations of indiscriminate waste disposal.
In a statement made available to The PUNCH on Tuesday, the Special Adviser to the Governor on OGWAMA, Hon Farook Akintunde, said the decision became necessary after market leaders repeatedly failed to heed repeated warnings from the agency.
He said, “To make their behaviour unacceptable, they refuse to patronise the PSP assigned to them for proper evacuation of their waste and prefer to dump their waste indiscriminately in the market.
“Despite this, OGWAMA decided to clean the market through mechanical evacuation of their heaps of waste and thereafter provided a roll-on roll-off bin for them to deposit their waste for easy evacuation, but they refused to make use of the bin and continued dumping waste indiscriminately in the market.”
Akintunde added that the government would not allow a few traders to jeopardise public health through poor sanitation.
“The state government, through OGWAMA, will not fold its hands and watch a few traders put the health and well-being of a flourishing town into jeopardy by operating in such a filthy environment,” he said.
He urged traders and market leaders to clean up the market and adopt proper waste disposal practices, warning that failure to comply could lead to health risks, including contamination of goods and the spread of diseases.
