Business
Edun, Dangiwa Resign from Tinubu’s Cabinet, Not Sacked
The Presidency has dismissed reports suggesting that the former Minister of Finance and Coordinating Minister of the Economy, Wale Edun, was removed from office by President Bola Ahmed Tinubu, clarifying that he voluntarily resigned on health grounds.
In a statement issued on Wednesday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, it was confirmed that Edun formally tendered his resignation before the President announced a replacement on Tuesday.
Similarly, the former Minister of Housing and Urban Development, Ahmed Musa Dangiwa, also stepped down from his position, expressing appreciation to the President for the opportunity to serve in the Federal Executive Council.
Mr. Edun, who marked his 70th birthday on Monday and has recently experienced health challenges, submitted his resignation on the same day. In his letter, he thanked the President for the opportunity to serve the nation.
“It has been an honour to be part of your administration and the Renewed Hope Agenda,” he wrote.
“Under your leadership, Nigeria has become stronger, more stable, and more respected internationally.
“I wish you continued success in the years ahead.”
Before his exit was officially announced by the Office of the Secretary to the Government of the Federation, Edun paid a farewell visit to President Tinubu at the State House on Tuesday. He later left following a private meeting that lasted about an hour, indicating his intention to focus on personal engagements.
Ahmed Musa Dangiwa, a professional architect, previously served as Managing Director of the Federal Mortgage Bank from 2015 to 2022 and as Secretary to the Katsina State Government before his appointment as minister in August 2023.
Edun, an economist and investment banker, served as Lagos State Commissioner for Finance between 1999 and 2004 during Tinubu’s tenure as governor.
He earlier worked at Chase Merchant Bank in Lagos from 1980 to 1986 before joining the World Bank under its Young Professionals Programme, where he contributed to economic and financial projects across Latin America and the Caribbean.
In 1989, he co-founded Investment Banking & Trust Company Limited (now Stanbic IBTC) and later established Denham Management Limited in 1994, which evolved into the Chapelhill Denham Group. He served as chairman of the company from 2008 to 2021.
President Tinubu has commended both Edun and Dangiwa for their service and contributions to the administration’s economic reform agenda, and wished them success in their future endeavours.
The President has also directed the newly appointed Minister of Finance, Taiwo Oyedele, to consolidate ongoing reforms and strengthen the administration’s fiscal and economic policies with renewed focus, discipline, and innovation.
In addition, President Tinubu is expected to forward the nomination of Muttaqha Rabe Darma, also from Katsina State, to the Senate for confirmation as Minister of Housing.
The post Edun, Dangiwa Resign from Tinubu’s Cabinet, Not Sacked appeared first on Business Today NG.
The Federal Capital Territory (FCT) Police Command has commenced a fresh operation targeting vehicles with illegal tinted windows, concealed number plates and improper registration across Abuja.
FCT Commissioner of Police Ahmed Muhammed Sanusi disclosed the development during a media briefing on Friday.
He said security reports indicated that criminal suspects often use such vehicles to avoid identification and carry out unlawful activities.
According to the police chief, cases of kidnapping and the notorious “one-chance” robberies have been linked to vehicles operating with hidden identities.
Sanusi noted that tinted windows and covered registration plates make it difficult for security agencies to track offenders and investigate crimes.
He stated that enforcement teams have already been deployed across the territory to ensure compliance with existing regulations.
The commissioner clarified that the exercise is aimed at motorists violating the law and not those with valid approvals for tinted glass.
He revealed that more than 30 vehicles have so far been impounded for breaching the regulations and that offenders would face prosecution.
Sanusi urged residents to report suspicious persons, vehicles and activities, stressing that the operation is part of broader efforts to improve security and curb crime in the nation’s capital.
The post FCT Police Launch Crackdown on Illegal Tinted Vehicles appeared first on Business Today NG.
Nigeria has received multiple funding offers from investors and institutional lenders, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said.
Speaking in an interview with Bloomberg TV, Mr Oyedele said the current market environment presents an opportunity for the country to refinance some of its existing debt while mobilising additional resources for development.
“We think that the timing is good for us to be able to maybe even refinance some of our expensive past debts, but also to raise more funding for our development at this critical time,” he said.
Responding to questions on whether Nigeria would pursue a Eurobond issuance or other commercial financing options, the minister said any decision would depend on prevailing market conditions, the amount of funding required and the speed at which the government intends to access the funds.
He noted that the country currently has several financing options available.
“We have a lot of offers, there is a lot of interest in Nigeria by investors, which is good for us,” Mr Oyedele said.
He added that Nigeria is also engaging with institutional lenders, including the African Finance Corporation (AFC), the African Development Bank (AfDB) and Afreximbank, alongside financing arrangements involving other countries.
“We have many options,” he noted.
ALSO READ: Nigeria eyes debt refinancing, fresh funding — Oyedele
Mr Oyedele explained that the government would carefully evaluate the cost, risks and suitability of available funding sources before deciding on the most appropriate financing strategy.
According to him, the objective is to ensure efficient use of resources while supporting the country’s development priorities.
“The goal is to get the best results from every dollar or every naira that we spend,” he said.
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