Wale Edun: The Distinguished Banker Likely to Become Tinubu’s Finance Minister
By Rahma Oladosu
Approximately two months after his inauguration as the 16th President of Nigeria, Sen. Bola Ahmed Tinubu has officially released his first batch of ministerial nominees.
The ministerial list addressed to the President of the Senate, Godswill Akpabio, was delivered on the floor of the Senate by Femi Gbajabiamila, Chief of Staff to the President, last Thursday.
The list with 28 names, had some former governors, senators and House of Representatives members, together with some technocrats ‘onboard’. Mr. Wale Edun, a seasoned financial expert with extensive experience in the banking sector, also made the cut.
Edun, who is highly-rated in Tinubu’s circle, is a distinguished Nigerian economist who has made a significant mark in the financial sector, both nationally and internationally.
Edun, who was selected as a member of the Presidential Transition Council (PTC) in March, has been serving as the Special Adviser on Monetary Policies to President Tinubu, since June.
Inclusive of other academic qualifications and professional affiliations, Edun holds a Bachelor’s Degree in Economics from the University of London and a Master’s Degree in Economics from the University of Sussex, England.
Mr. Edun’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’s Treasury and Money Market activities.
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The presidential aide also gained foreign experience at Lehman Brothers and Chase Manhattan Capital Markets Corporation on Wall Street in New York, USA, while at Chase.
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’s Best Bank for Advisory in the Euromoney Awards 2016 – 2019.
Edun’s political involvement has basically been that of a staunch democrat who believes in the power of the people. This explains his unwavering dedication to the grassroots and his participation in philanthropy.
Mr. Edun is an International Trustee of the Duke of Edinburgh’s International Award Foundation and the Chairman of the Lagos Boxing Hall of Fame, a registered non-profit youth development group that runs amateur boxing in Lagos. He is also the Chairman of the Livewell Initiative, a health sector Non-Governmental Organization (NGO), and a Trustee of Sisters Unite for Children, an NGO that helps children in need.
Edun, despite his reserved demeanor, is socially linked to all segments of society. He is a member of several social organizations through which he strives to better the lives of others. In addition to his many accomplishments, he has served as a mentor to many people, including other prominent figures.
His impressive record of achievements in both the private and public sectors attests to his phenomenal competence and expertise. And with this, the former Commissioner for Finance in Lagos State could be brought into the nation’s financial climate as the Minister of Finance.
