President Bola Tinubu’s recent presidential pardon, which included individuals convicted of economic and financial crimes, risks severe damage to investor confidence in Nigeria, according to the Centre for the Promotion of Private Enterprise (CPPE).
In a statement released on Sunday, Dr. Muda Yusuf, the Chief Executive Officer of the economic think-tank, raised the alarm that extending executive clemency to convicts of serious financial and economic offences could discourage both domestic and foreign investment. The CPPE argued that such actions raise fundamental questions about policy consistency, contract sanctity, and investment security in the country.
While acknowledging that the prerogative of mercy is a legitimate constitutional instrument, the CPPE stressed that its application to serious crimes like economic and financial offences, drug trafficking, and other criminal acts demands utmost discretion, transparency, and alignment with Nigeria’s established anti-corruption campaign.
The Centre, therefore, urged the Federal Government to urgently review and rationalise the list of beneficiaries of the presidential pardon. Specifically, the CPPE called on the administration to:
Reaffirm Nigeria’s zero-tolerance position on corruption, drug trafficking, illegal mining, and financial crimes.
Uphold institutional integrity and ensure that justice is not compromised for political expediency.
Strengthen transparency and accountability in the exercise of executive clemency to safeguard public confidence and investor trust.
“The perception of weak sanction regimes towards economic and financial crimes is incompatible with this goal,” the CPPE stated, emphasizing that Nigeria’s aspiration for a competitive, diversified, and globally respected economy hinges on the credibility of its institutions and the integrity of its governance.
This pushback follows the Presidency’s release of a clemency list on October 11, 2025, detailing 175 beneficiaries, which included illegal miners, drug traffickers, and kidnappers. The decision immediately triggered public outrage and condemnation. The Attorney General and Minister of Justice, Prince Lateef Fagbemi, SAN, subsequently issued a statement clarifying that the list of those pardoned is subject to review.
