News
CPPE Calculates Negative Effects of Presidential Pardons on the Economy and Investment
Dr Muda Yusuf, Director/CEO of CPPE, expressed concerns about the inclusion of individuals convicted of corruption, financial crimes, murder, drug trafficking, and illegal mining.
The Centre for the Promotion of Private Enterprise (CPPE) is urging the Federal Government to urgently review and rationalise the list of individuals granted the prerogative of mercy by President Bola Tinubu, which includes both living and deceased Nigerians.
In a policy brief made available to our editor on Sunday, the CPPE asserted that while the prerogative of mercy is a legitimate constitutional tool, its application to serious economic and financial offences, as well as other criminal acts, requires utmost discretion, transparency, and alignment with Nigeria’s commitments to anti-corruption, drug control, and the sanctity of human life.
Dr Muda Yusuf, Director/CEO of CPPE, expressed concerns about the inclusion of individuals convicted of corruption, financial crimes, murder, drug trafficking, and illegal mining.
He stated, “Extending clemency and pardons to persons convicted of corruption, financial fraud, illegal mining, murder, and drug-related crimes has far-reaching economic and social consequences.”
He highlighted the following issues:
– Illegal Mining: It undermines legitimate enterprises, depletes national revenue, and fuels insecurity in mining communities.
– Corruption and Financial Crimes: These distort markets, weaken institutions, and discourage fair competition.
– Drug Trafficking: This tarnishes Nigeria’s global image, exacerbates insecurity, and imposes significant social costs.
Leniency toward financial and economic crimes erodes deterrence, weakens enforcement, and signals a tolerance for misconduct.
A lenient approach undermines respect for the law and the credibility of governance.
Damage to Investor Confidence
Investor confidence thrives on predictability, fairness, and justice. When individuals convicted of economic or financial crimes are pardoned, it raises concerns about policy consistency, the sanctity of contracts, and investment security, thereby discouraging both domestic and foreign investors.
Reputational and Governance Risks
Excessive clemency could reverse gains in governance credibility and reinforce perceptions of institutional weakness.
Such perceptions can negatively impact sovereign risk ratings, capital inflows, and the overall attractiveness of Nigeria’s investment climate.”
News
Katsina Flood Sweeps Away Siblings Returning From Islamiyya School
Fighting back tears, the children’s father, Malam Salisu Arabi, described the loss as the most painful moment of his life.
Two brothers, Muhammad Salisu, 12, and Abdurrahman Salisu, 7, lost their lives after they were carried away by flood in Janbago, a community in Katsina State.
The victims, were said to be returning home from a nearby Islamiyya school when downpour, accompanied by strong winds, turned the streets into raging torrents.
The Daily Trust reported that their bodies were later recovered from different locations after frantic search efforts by residents.
The incident plunged the entire community into mourning as sympathisers thronged the family residence to console the bereaved parents.
Fighting back tears, the children’s father, Malam Salisu Arabi, described the loss as the most painful moment of his life.
“They left home that day like every other child going to Islamiyya school. I never imagined that the same rain we all witnessed would take away my two children,” he lamented.
News
An alleged fake university discover in Lagos
The university was operating from a three-bedroom apartment at Ilado, Olorunda Local Council Development Area of Lagos State.
Photo:Students of the university during the raid by NSCDC. Credit: NSCDC
The proprietor of an alleged fake university in Lagos , has been arrested by operatives of Nigeria Security and Civil Defence Corps (NCDC).
The NSCDC Badagry Area Command, who enforced the arrest, said that the university was operating from a three-bedroom apartment at Ilado, Olorunda Local Council Development Area of Lagos State.
The command also rescued 106 students of the institution from across Nigeria and neighbouring West African countries with promises of admission into a foreign university.
According to the corps, the operation was carried out in the early hours of Monday following days of intelligence gathering and covert surveillance by NSCDC operatives
” The suspected institution was operating without an official name, registration, signboard or recognised campus, while allegedly presenting itself online as a distance-learning centre affiliated with a foreign university,”said NSCDC.
Investigations revealed that the rescued youths, mostly between the ages of 19 and 24, came from several Nigerian states, including Kogi, Oyo and some northern states. Others reportedly travelled from neighbouring countries such as Niger, Cameroon and Togo after being recruited online.
News
Ayo Fayose Gets Presidential Portfolio As REA Board Chairman
Fayose will head the board of REA, with Alhaji Ahmadu Abubakar and Engineer Ilyasu Ibrahim Makinta appointed as members and non-executive directors,” said Onanuga.
President Bola Tinubu has appointed the former governor of Ekiti State, Ayo Fayose, as chairman of the Rural Electrification Agency (REA) Board.
The President also appointed Major General Junaid Bindawa as chairman of the National Salaries, Incomes and Wages Commission.
24 others were also appointed to 10 federal government agencies and commissions.
The appointments were contained in a statement issued by the presidential spokesman, Bayo Onanuga, in Abuja.
According to the statement, “All the appointments take immediate effect.”
“Fayose will head the board of REA, with Alhaji Ahmadu Abubakar and Engineer Ilyasu Ibrahim Makinta appointed as members and non-executive directors,” said Onanuga.
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