The Centre for the Promotion of Private Enterprise (CPPE) has raised concerns over the recent presidential prerogative of mercy, warning that extending clemency to individuals convicted of serious economic and criminal offences could undermine Nigeria’s economy and investor confidence.
The organisation called on the Federal Government to urgently review the list of beneficiaries.
Their clarification comes in response to public outcry over the announcement, which included individuals convicted of ‘corruption, financial crimes, murder, drug trafficking, and illegal mining, raising concerns about governance credibility, institutional integrity, and investor confidence.
On October 10, President Bola Ahmed Tinubu exercised his constitutional prerogative of mercy, granting clemency to a group of 175 individuals
The beneficiaries included both current and former convicts, such as Major General Mamman Jiya Vatsa, Ken Saro-Wiwa and the Ogoni Nine, Maryam Sanda, and Sir Herbert Macaulay. The pardons were recommended based on various criteria, including remorse, good conduct, age, and health considerations.
CPPE commended the Attorney General for clarifying that the recently published list of beneficiaries of the presidential prerogative of mercy was not final. The policy think tank said this shows the responsiveness and sensitivity of the administration to public sentiments which is a critical democratic value.
CPPE highlighted that granting clemency to offenders in these categories carries serious economic and social consequences:
The organisation warned that such leniency could send disturbing and counterproductive signals at a time when Nigeria is striving to attract investment and diversify its economy.
Their demands
CPPE urged the Federal Government to:
“Urgently review and rationalize the list of beneficiaries of the prerogative of mercy.”
“Reaffirm Nigeria’s zero-tolerance position 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,” they stated
According to CPPE, leniency toward financial and economic crimes erodes deterrence, weakens enforcement, and signals tolerance for misconduct, ultimately undermining respect for law and governance credibility.
They noted Nigeria’s goal of a competitive and respected economy depends on strong institutions and governance. Weak enforcement of economic and financial crimes undermines investor confidence, social stability, and the country’s economic reform efforts.
They noted Nigeria’s goal of a competitive and respected economy depends on strong institutions and governance. Weak enforcement of economic and financial crimes undermines investor confidence, social stability, and the country’s economic reform efforts.