The Centre for the Promotion of Private Enterprise (CPPE) has cautioned that President Bola Tinubu’s recent wave of presidential pardons could undermine investor confidence and weaken Nigeria’s reputation for accountability.
In a statement issued on Sunday, CPPE Chief Executive Officer, Dr. Muda Yusuf, said granting clemency to individuals convicted of economic and financial crimes raises serious concerns about policy consistency, contract sanctity, and investment security — all of which are critical to attracting both local and foreign investors.
While acknowledging that the prerogative of mercy is a legitimate constitutional power, the economic think tank stressed that its application to grave offences such as corruption, drug trafficking, and financial crimes must be handled with utmost discretion, transparency, and alignment with Nigeria’s anti-corruption commitments.
“The Federal Government must urgently review and rationalize the list of beneficiaries of the presidential pardon,” CPPE urged. “It should reaffirm Nigeria’s zero-tolerance stance on corruption, drug trafficking, illegal mining, and financial crimes, and ensure justice is never compromised for convenience or political gain.”
According to the Centre, the credibility of Nigeria’s economic reforms and investment promotion efforts depends heavily on the integrity of governance and the strength of institutions. “A perception of weak sanctions against financial and economic crimes is incompatible with the country’s aspirations for a competitive and globally respected economy,” it added.
The Presidency had on October 11, 2025, released the names of 175 persons granted clemency — including convicted illegal miners, drug traffickers, and kidnappers — a move that sparked widespread public outrage.
However, the Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, later clarified that the list of pardoned individuals remains subject to review.
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