That have been many speculations on why President Bola Tinubu removed the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in a dramatic cabinet reshuffle that has sent shockwaves through the Federal Executive Council
One of them is the renewed attention on the lawmaker who first exposed the financial scandal now haunting the administration.
That lawmaker is Hon. Alex Mascot Ikwechegh, the member representing Aba North/Aba South Federal Constituency, whose relentless questioning during a February budget defence hearing laid bare a staggering truth: ₦1.15 trillion in approved capital funds had vanished into thin air, with zero disbursement to any capital project across Nigeria.
It was Wednesday, February 25, 2026, when Hon. Mascot—a key member of the House Committee on Aids and Loans—took the floor at the Appropriation Committee's budget defence session. Armed with insider documents from his committee assignment, he painted a disturbing picture: billions of dollars in loans had been secured, record revenues had been generated by FIRS and Customs, yet not a single kobo had reached any capital project. Roads, hospitals, schools—all left to rot while funds sat untouched.
Then came the question that silenced the entire room: "Why the capital of the Nigerian government remains at zero in 2026?"
When a flustered Minister Edun tried to shift responsibility to his Minister of State, Doris Uzoka-Anite, Hon. Mascot refused to back down. The committee adjourned and summoned her. She appeared the next day, confirmed the funds were approved, but blamed "pre-disbursement conditions." Hon. Mascot was ready. He asked her a simple question: name one ministry that met all conditions and was still denied funding. She could not name a single one.
Exactly one week later, on March 3, Uzoka-Anite was removed as Minister of State for Finance—her third portfolio in two years.
Now, less than two months after that historic hearing, Wale Edun has also been sacked. The Secretary to the Government of the Federation announced his removal in a memo dated April 20, 2026, citing the need to "strengthen cohesion" in governance. Taiwo Oyedele, who was appointed Minister of State after Uzoka-Anite's fall, has now been elevated to substantive Minister of Finance.
There is the theory of the failing health of the Minister
Few months ago , Mr Edun took a short leave to attend to his health
Rumour had it that he suffered a stroke , which he later debunked but those in the know claimed the former Lagos State Commissioner has not been in the best of health and not performing optimally in a very sensitive Ministry hence the need for him to step aside to take care of his health