Centre for the Promotion of Private Enterprise says President Bola Tinubu’s recent presidential pardon can damage investors’ confidence in Nigeria.
CPPE noted that a situation whereby persons convicted of economic and financial crimes benefit from the presidential pardon raises questions about policy consistency, contract sanctity, and investment security, thereby discouraging both domestic and foreign investors.
The Centre’s Chief Executive Officer, Dr Muda Yusuf, expressed the concern in a statement on Sunday.
According to the economic think-tank, while the prerogative of mercy is a legitimate constitutional instrument, its application to serious economic and financial offences and other criminal acts demands utmost discretion, transparency, and alignment with Nigeria’s commitments to anti-corruption campaign, drug control and the sanctity of human life.
CPPE urged the Federal Government to urgently review and rationalise the list of beneficiaries of the presidential pardon.
CPPE stated, “Reaffirm Nigeria’s zero-tolerance position on corruption, drug trafficking, illegal mining, and financial crimes; uphold institutional integrity and ensure that justice is never compromised for convenience or political expediency; and strengthen transparency and accountability in the exercise of executive clemency to safeguard public confidence and investor trust.
“Nigeria’s aspiration to build a competitive, diversified, and globally respected economy rests on the credibility of its institutions and integrity of its governance. The perception of weak sanction regimes towards economic and financial crimes is incompatible with this goal.
“To preserve investor confidence and social stability, government must demonstrate unwavering commitment to accountability, effective consequence management and the rule of law. The credibility of Nigeria’s economic reform and investment promotion drive depends largely on it.”
Recall that on October 11, 2025, the Presidency released the names of 175 persons granted clemency, including illegal miners, drug traffickers and kidnappers.
Tinubu’s decision had triggered public outrage and condemnation.
Meanwhile, a statement from the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, clarified that the list of those pardoned is subject to review.
