For some millennials, especially Gen Z Nigerians, the name Wale Edun, the former Finance Commissioner when Bola Ahmed Tinubu held sway as the state governor, is new but not to most millennials and the generation before who were Lagosians at least.
The former banker that knows his onions understands the terrain like the back of his hands. He had featured prominently and glaringly, too, and contributed meaningfully when he manned the finance ministry of the most populous state in Nigeria.
Mr Edun was in the news only recently when he was selected as a Presidential Transition Council (PTC) member.
Chief Adebayo Olawale Edun will be in the news more as sources tell NewsWireNGR that the economist is handpicking all members, if not most of the members of the trans committee for all the sectors ahead of the official handover date”.
“A lot of people re lobbying to get into the various committees but only persons cleared by Mr Edun were picked and it is being suggested that those in the various committees are likely to get automatic appointments as soon as the President sworn in”.
“Expect the names of the ministers to be announced at least within the first one month of the swearing in”, the source added.
His impressive record of private and public sector achievements attests to his phenomenal competence and expertise. Inclusive of other academic qualifications and professional affiliations, Edun holds a Bachelor’sBachelor’s Degree in Economics from the University of London and a Master’sMaster’s Degree in Economics from the University of Sussex, England.
Multiple sources say that since Tinubu left the seat of government, their relationship has gone from boss and subordinate to two close allies. It was revealed that twice, Tinubu in the past had recommended him for a federal job and on the two occasions, the astute banker was eased out. A source disclosed that the brilliant former banker was then getting set to hit the limelight once again in 2019 when indications were rife that he was being tipped to be one of the new members of the federal cabinet with the sure bet of clinching the Finance Ministry portfolio, on account of his very good job as a former finance commissioner in Lagos. But again, for reasons unknown, he was shoved off by the powers that be in President Muhammadu Buhari’sBuhari’s government.
Mr. Edun’sEdun’s extensive financial industry expertise includes serving as Head of Treasury and Deputy Head of Corporate Finance at Chase Merchant Bank from 1980 to 1986. His duties included Capital Market and Financial Advisory operations for multinational conglomerates and their subsidiaries, as he was in charge of the bank’sbank’s Treasury and Money Market activities. While at Chase, he gained foreign experience at Lehman Brothers and Chase Manhattan Capital Markets Corporation on Wall Street in New York, USA.
He co-founded and served as Executive Director of Investment Banking & Trust Company Limited, now Stanbic IBTC Plc, in 1989. Denham Management Limited was established by him in 1994. In addition to serving on the boards of several other businesses, Wale is the Chair of Chapel Hill Denham Group, a prominent investment bank in Lagos that has received significant recognitions and awards, including Africa’sAfrica’s Best Bank for Advisory in the Euromoney Awards 2016 – 2019.
As part of what to expect, the President-elect recently nominated Atiku Bagudu, Kebbi State governor and Wale Edun, a financial expert, who many are touting as likely to play prominent roles in the incoming administration, into the Presidential Transition Council (PTC).
Edun was finance commissioner in Lagos when Tinubu was governor of the state. He is a financial expert with many years in the banking sector.
Edun, it is rumoured, may either take over as the Governor of the Central Bank of Nigeria or serve as finance minister. But whatever position he gets in the new government, he has the ears of Tinubu and his role will not be restricted to the assigned portfolio.
The PTC, which was inaugurated on February 14, 2023, is made up of 24 members, including two persons from the President-elect’sPresident-elect’s team.
“After the declaration of His Excellency, Asiwaju Bola Ahmed Tinubu as the President-Elect, the PTC requested him to nominate his representatives on the council as provided in the Executive Order. The President-elect nominated His Excellency Atiku Bagudu, the Governor of Kebbi state and Chief Olawale Edun, who have since joined the process actively,”” he said.
