Tinubu’s Presidential Pardon Could Undermine Investor Confidence – CPPE Warns

The Centre for the Promotion of Private Enterprise (CPPE) has cautioned that President Bola Tinubu’s recent presidential pardon for convicted individuals could severely undermine investor confidence and erode trust in Nigeria’s governance and justice system.

In a statement released on Sunday, CPPE Chief Executive Officer, Dr. Muda Yusuf, said that extending clemency to individuals convicted of serious economic and financial crimes sends the wrong message to both local and international investors. According to him, such actions create uncertainty around policy consistency, contract enforcement, and institutional integrity — factors crucial to sustaining investor confidence.

“While the prerogative of mercy is a legitimate constitutional instrument,” Yusuf stated, “its application to cases involving corruption, economic crimes, drug trafficking, and other grave offences requires the highest level of discretion, transparency, and alignment with Nigeria’s anti-corruption commitments.”

The economic think tank urged the Federal Government to urgently review the list of beneficiaries of the presidential pardon and ensure that future exercises of executive clemency are guided by clear moral and institutional standards.

“The government must reaffirm Nigeria’s zero-tolerance position on corruption, drug trafficking, illegal mining, and financial crimes. Upholding institutional integrity and ensuring that justice is not compromised for political expediency are vital to safeguarding public confidence and investor trust,” the statement read.

CPPE further emphasized that Nigeria’s aspiration to build a stable and globally competitive economy depends on the credibility of its institutions. The perception that the government tolerates or excuses economic crimes, the group said, could damage investor sentiment and discourage long-term capital inflows.

“To preserve investor confidence and social stability, the government must demonstrate unwavering commitment to accountability, effective consequence management, and the rule of law,” CPPE added. “The success of Nigeria’s economic reforms and investment promotion drive will depend largely on this credibility.”

The controversy stems from the presidential pardon list released by the Presidency on October 11, 2025, which included 175 individuals convicted of various crimes — among them illegal miners, drug traffickers, and kidnappers. The announcement drew widespread public outrage, with many Nigerians questioning the rationale behind extending clemency to individuals found guilty of severe offences.

In response to the backlash, the Minister of Justice and Attorney-General of the Federation, Prince Lateef Fagbemi (SAN), clarified that the list of pardoned individuals remains under review and that the government is open to reassessing its decision.

Despite this reassurance, economic experts warn that the damage to Nigeria’s image could persist unless firm corrective steps are taken. Many argue that the country’s commitment to anti-corruption, transparency, and judicial integrity must be more than rhetoric — it must be reflected in the government’s actions.

As Nigeria continues to court foreign investors and implement economic reforms aimed at stabilizing its currency and boosting productivity, analysts say maintaining the perception of strong governance and rule of law will be critical. Any signal of leniency towards corruption or economic crime, they caution, risks undermining years of effort to restore confidence in the country’s business environment.