Presidential Pardon Controversy: CPPE Warns Clemency for Economic Crimes Could Hurt Investor Confidence

The Centre for the Promotion of Private Enterprise (CPPE) has voiced strong concerns that President Bola Tinubu’s recent presidential pardon, which included individuals convicted of economic and financial crimes, could severely damage investor confidence in Nigeria.

Dependable NG reports that the economic think-tank’s Chief Executive Officer, Dr. Muda Yusuf, stated on Sunday that granting clemency to persons convicted of serious financial offenses raises troubling questions about policy consistency, the sanctity of contracts, and investment security. This, in turn, is likely to discourage both domestic and foreign investors.

CPPE acknowledged that the prerogative of mercy is a legitimate constitutional tool but insisted that its application, particularly to serious economic, financial, and other criminal acts, requires utmost discretion, transparency, and a clear alignment with Nigeria’s commitment to its anti-corruption campaign and the rule of law.

The Centre urged the Federal Government to immediately review and rationalise the list of beneficiaries of the presidential pardon. It called on the government to:

Reaffirm Nigeria’s zero-tolerance stance on corruption, drug trafficking, illegal mining, and financial crimes.

Uphold institutional integrity and ensure that justice is never compromised for convenience or political expediency.

Strengthen transparency and accountability in the exercise of executive clemency to safeguard public confidence and investor trust.

CPPE stressed that Nigeria’s goal of building a competitive and globally respected economy depends on the credibility of its institutions and the integrity of its governance. The perception of weak sanction regimes for economic and financial crimes is fundamentally incompatible with this goal.

The call for caution follows the Presidency’s release of a list of 175 persons granted clemency on October 11, 2025, which included convicted illegal miners, drug traffickers, and kidnappers. The decision has since triggered widespread public outrage and condemnation.

While the pardons included historical figures and long-serving inmates on humanitarian grounds, the list also featured individuals convicted of financial crimes, such as a person sentenced for fraud and a former lawmaker convicted of corrupt practices.

Following the backlash, a statement from the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, clarified that the list of those pardoned is subject to review.