The Centre for the Promotion of Private Enterprise (CPPE) has cautioned the Federal Government over the recent presidential pardon extended to some Nigerians convicted of corruption, saying the act damages investor confidence the country’s economy
Dr.Muda Yusuf,who expressed this in a press statement on Sunday said investor confidence thrives on predictability, fairness, and justice.
He added:”When those convicted of economic or financial crimes are pardoned, it raises questions about policy consistency, contract sanctity, and investment security, thereby discouraging both domestic and foreign investors.”
He also said leniency toward financial and economic crimes erodes deterrence, weakens enforcement, and signals tolerance for misconduct. A soft sanction regime undermines respect for law and governance credibility.
According to him, undue clemency could reverse gains in governance credibility and reinforce perceptions of institutional weakness.
He maintained that such perceptions affect sovereign risk ratings, capital inflows, and the attractiveness of Nigeria’s investment climate.
He said:”Granting mercy to economic offenders can demoralize law enforcement agencies. Years of diligent investigation and prosecution risk being undermined, weakening institutional resolve and emboldening impunity.
“The CPPE particularly acknowledges, in this regard, the incredible achievements of the National Drug Law Enforcement Agency (NDLEA), which have earned global recognition.
“A lenient sanction environment fosters impunity, weakens ethical standards, and erodes public trust in justice institutions. Over time, it discourages productivity, nurtures rent-seeking, and sustains unproductive and illicit economic behaviour.
“Sustained economic growth and inclusive prosperity depend on credibility, accountability, and fairness in governance.”
He implored the Federal Government to
urgently review and rationalize the list of beneficiaries of the prerogative of mercy.
He emphasized the need for government to reaffirm Nigeria’s zero-tolerance position on corruption, drug trafficking, illegal mining, and financial crimes as well as uphold institutional integrity and ensure that justice is never compromised for convenience or political expediency.
Government, he urged, should strengthen transparency and accountability in the exercise of executive clemency to safeguard public confidence and investor trust.
He said:”Nigeria’s aspiration to build a competitive, diversified, and globally respected economy rests on the credibility of its institutions and integrity of its governance. The perception of weak sanction regimes toward economic and financial crimes is incompatible with this goal.
“To preserve investor confidence and social stability, government must demonstrate unwavering commitment to accountability, effective consequence management and the rule of law. The credibility of Nigeria’s economic reform and investment promotion drive depends largely on it.”