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The Centre for the Promotion of Private Enterprise (CPPE) has urged the federal government to urgently review the exercise of the presidential prerogative of mercy to preserve investor confidence, uphold accountability and strengthen public trust in governance.
In its policy brief on “The Economic and Investment Implications of the Prerogative of Mercy,” the Centre commended the Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN), for clarifying that the recently published list of beneficiaries of the presidential pardon was not final.
According to Dr. Muda Yusuf, Director of the CPPE, the clarification reflects the administration’s responsiveness to public sentiments , a vital element of democratic governance.
He noted that the strong public backlash that followed the initial list was understandable, given that it reportedly included individuals convicted of corruption, financial crimes, murder, drug trafficking, and illegal mining, offences that undermine Nigeria’s credibility and economic stability.
“While the prerogative of mercy is a constitutional instrument, its application to serious economic and financial crimes must be guided by utmost discretion, transparency, and alignment with Nigeria’s anti-corruption and justice commitments,” Yusuf stressed.
He warned that extending clemency to individuals convicted of such offences carries grave economic and social consequences
Yusuf said that illegal mining depletes national revenue and fuels insecurity; Corruption and financial crimes distort markets and deter fair competition; Drug trafficking tarnishes Nigeria’s image and worsens insecurity.
He cautioned that granting pardons to offenders in these categories could send the wrong signals to investors at a time when Nigeria is working to diversify its economy and rebuild global confidence.
He, therefore, urged the government to review and rationalize the current list of beneficiaries; Reaffirm Nigeria’s zero-tolerance stance on corruption and illicit activities; Ensure transparency and accountability in exercising executive clemency, among others.
“The strength of Nigeria’s economy and investment climate rests on institutional integrity and the credibility of governance, adding that leniency toward financial and economic crimes undermines deterrence, weakens enforcement, and fosters perceptions of institutional weakness.
Yusuf added that investor confidence depends on predictability, fairness, and justice, noting that indiscriminate pardons could erode these foundations and deter both local and foreign investment.
He emphasised that sustained economic growth and inclusive prosperity can only thrive where there is credibility, accountability, and fairness in governance.
