SUN OCT 19 2025-theGBJournal| Extending clemency and pardon to persons convicted of corruption, financial fraud, illegal mining, murder, and drug-related crimes has far-reaching economic and social consequences, says the Centre for the Promotion of Private Enterprise (CPPE).
”At a time when Nigeria is striving to diversify its economy, attract investment, and restore global confidence, such acts of liberal clemency risk sending disturbing and counterproductive signals.”
The CPPE’s, a private think-tank, statement comes after the Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi, clarified that the recently published list of beneficiaries of the presidential prerogative of mercy was not final.
The CPPE hailed the clarification as a reflection of the responsiveness and sensitivity of the administration to public sentiments which is a critical democratic value.
The public outcry that greeted the initial announcement of the clemency and pardons was deep and legitimate.
The inclusion of persons convicted of corruption, financial crimes, murder, drug trafficking, and illegal mining raised profound concerns about governance credibility, institutional integrity, and investor confidence.
”While the prerogative of mercy is a legitimate constitutional instrument, its application to serious economic and financial offences and other criminal acts demands utmost discretion, transparency, and alignment with Nigeria’s commitments to anti-corruption, drug control and the sanctity of human life,” CPPE said.
The Centre highlighted the economic and investment implications as thus:
-Weakening of Deterrence and the Rule of Law
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.
-Damage to Investor Confidence
Investor confidence thrives on predictability, fairness, and justice. 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.
-Reputational and Governance Risks
Undue clemency could reverse gains in governance credibility and reinforce perceptions of institutional weakness. Such perceptions affect sovereign risk ratings, capital inflows, and the attractiveness of Nigeria’s investment climate.
-Erosion of Institutional Morale
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.
Such clemency also has social implications says the CPPE.
”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.”
The CPPE consequently urges 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, and strengthen transparency and accountability in the exercise of executive clemency to safeguard public confidence and investor trust.
For CPPE, 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.”
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