Meet Wale Edun, Special Adviser to President Tinubu on Monetary Policy, his CV is Very Impressive
- Wale Edun, a renowned economist and banker, has been appointed as the special adviser to President Bola Tinubu on monetary policy
- Edun's appointment is noteworthy due to his extensive experience and previous association with Tinubu
- Experts and observers will closely watch how Edun's expertise and recommendations are incorporated into Tinubu's economic policies
President Bola Ahmed Tinubu's reputation as a leader who values the expertise of seasoned professionals and nurtures strategic alliances may be further solidified by his latest appointment.
On Thursday, June 15, 2023, through the Director of Information, State House, Tinubu announced the appointment of Wale Edun, a seasoned banker and highly respected financial expert, as his Special Adviser on Monetary Policies.
Source: Facebook
Many observers had tipped Edun to become the next governor of the Central Bank of Nigeria (CBN), given his wealth of experience in economics, public finance, international finance, merchant banking, and corporate finance at both national and international levels.
Moreso, he served as the commissioner for Finance in Lagos State for two terms during Tinubu's tenure as governor from 1999 to 2007.
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Professional and educational journey of Wale Edun
Edun obtained his Bachelor's Degree in Economics from the University of London and went on to earn a Master's Degree in Economics from the University of Sussex, England.
Throughout his illustrious career, Edun has achieved remarkable success in the financial sector, both nationally and internationally.
He has held key positions such as Head of Treasury and Deputy Head of Corporate Finance at Chase Merchant Bank, where he oversaw Treasury and Money Market activities.
He also played a pivotal role in Capital Market and Financial Advisory operations for local subsidiaries and affiliates of multinational corporations.
Edun's international experience includes working at Wall Street firms Lehman Brothers and Chase Manhattan Capital Markets Corporation in New York, USA.
His time there provided invaluable insights and strengthened his expertise in merchant banking, corporate finance, economics, and international finance.
In 1986, Edun joined the World Bank/IFC in Washington DC, USA, through the prestigious Young Professionals program. During his tenure, he worked on economic and financial packages for several countries in Latin America and the Caribbean, including the Dominican Republic, Trinidad, Indonesia, and India.
Since March 2008, Edun has held the position of Chairman at Chapel Hill Denham Group. In 1989, upon his return to Nigeria, he co-founded and served as the Executive Director of Stanbic IBTC Plc (formerly Investment Banking & Trust Company Limited).
Furthermore, in 1994, he established Denham Management Limited and currently serves as a director in multiple private businesses.
Eyebrows rise at Wale Edun's new role
While Edun's appointment as the Special Adviser on Monetary Policies to President Bola Ahmed Tinubu has been met with praise, there are lingering questions regarding the specifics of his role.
This is particularly notable considering the existence of the CBN's Monetary Policy Committee (MPC), which consists of the governor, deputy governors, and distinguished economists who convene regularly to review economic conditions and determine appropriate actions.
Edun's new position as the president's Monetary Policy Adviser is unique and unprecedented, sparking curiosity among experts and economists alike.
As the first individual to assume this role, Edun's actions and contributions will be closely monitored to see their impact on the economic decisions of the Tinubu-led government.
Zenith Bank founder Jim Ovia makes over N14bn after Tinubu suspends Emefiele
Meanwhile, in another report, Nigeria's richest banker, Jim Ovia, saw a significant increase of N14.2 billion in his fortune on the Nigerian Exchange in just one day.
Zenith Bank, in which Ovia holds a considerable stake, experienced a 10% increase in share price, and the market capitalisation also rose.
This happened as the market reacted positively to President Tinubu's suspension of Godwin Emefiele, pushing Nigerian stocks to a 15-year high.
Source: Legit.ng
