The Centre for the Promotion of Private Enterprise (CPPE) has expressed serious concern over President Bola Tinubu’s recent presidential pardon, warning that it could weaken investors’ confidence in Nigeria’s economy. The organisation said the decision to pardon individuals convicted of economic and financial crimes sends the wrong signal to both domestic and foreign investors.
In a statement issued on Sunday, CPPE’s Chief Executive Officer, Dr. Muda Yusuf, said such actions raise doubts about policy consistency, contract sanctity, and investment security, which are crucial factors investors consider before committing funds to any country. Yusuf noted that while the presidential prerogative of mercy is constitutional, it should be applied with discretion and transparency, especially when dealing with corruption and financial crimes.
The think-tank urged the Federal Government to review the list of beneficiaries, stressing that granting clemency to those involved in drug trafficking, illegal mining, and financial offences undermines Nigeria’s anti-corruption campaign and global reputation. It further called on the government to reaffirm its zero-tolerance stance on corruption, ensure justice is not compromised, and strengthen transparency in the use of executive powers.
According to CPPE, Nigeria’s dream of building a diversified and competitive economy depends on the credibility of its institutions and the integrity of governance. “Weak sanctions for economic crimes discourage investors and send a wrong message about the country’s seriousness in enforcing the rule of law,” Yusuf said. The group emphasized that accountability and effective consequence management are vital for maintaining investor trust and sustaining economic reforms.
Recall that on October 11, 2025, the Presidency announced a list of 175 individuals granted presidential pardon, including illegal miners, drug traffickers, and kidnappers. The move sparked widespread public outrage and condemnation. However, Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN), later clarified that the list is still under review.
