President Bola Tinubu has conferred Nigeria’s second-highest national honour, the Grand Commander of the Order of the Niger (GCON), on businessman Gilbert Chagoury.
The award was conferred on January 8, the day Mr Chagoury turned 80, but was not made public until Monday.
Billionaire businessman Femi Otedola shared a copy of the instrument of conferment of the national honour on X, describing Chagoury as a role model, friend and mentor.
“Congratulations to my role model, dear friend and mentor, Ambassador Gilbert Chagoury, on the well-deserved GCON honour conferred by President Bola Ahmed Tinubu,” Otedola wrote.
“Sir, your life is a masterclass in vision, discipline, and steady excellence. From Banana Island to Eko Atlantic City, your work speaks in landmarks, jobs, and lasting impact, and your leadership has inspired generations of Nigerians to think bigger and act bolder.”
Special adviser to the president on information and strategy Bayo Onanuga confirmed the conferment to PUNCH Online on Monday night.
“It is true. He had conferred the title on him. He did so on his 80th birthday for his various services to Nigeria, on the economic front, hospitality industry and so on. That’s the reason,” Mr Onanuga said.
Chagoury is a co-founder of the Chagoury Group, a business conglomerate with interests spanning construction, real estate, property development, flour milling, water bottling, glass manufacturing, insurance, hotels, furniture manufacturing, telecommunications and catering.
He was born on January 8, 1946, in Lagos to Lebanese immigrant parents and founded the group in 1971 with his younger brother Ronald Chagoury.
The Chagoury Group is behind major developments such as Banana Island and the ongoing Eko Atlantic City project in Lagos. The company is also involved in large-scale infrastructure projects, including the Lagos-Calabar coastal highway and the renovation of Tincan and Apapa Ports.
Chagoury’s career has also drawn public attention over the years. He was associated with the late military ruler General Sani Abacha who governed Nigeria between 1993 and 1998. After Abacha’s death, Chagoury returned about $300m to the Nigerian government and later agreed to forfeit $66m following a conviction by Swiss prosecutors in 2000 related to funds linked to the Abacha regime.
In the United States, he was detained in 2010 after his name appeared on a no-fly list, an incident for which the Department of Homeland Security later apologised. In 2018, he and two associates resolved a federal investigation linked to campaign finance violations.
Tinubu and Chagoury have maintained a long-standing relationship dating back to Tinubu’s time as governor of Lagos State between 1999 and 2007.
In 2024, leaked documents showed that the president’s son Seyi Tinubu was listed as a majority shareholder in an offshore company registered in the British Virgin Islands alongside Chagoury’s nephew Ronald Chagoury Jr. The company was incorporated about a decade ago, though its current ownership structure is unclear.
Chagoury also accompanied Tinubu on a state visit to France in December 2024, where he took part in meetings focused on economic cooperation.
When Chagoury marked his 78th birthday in 2024, Tinubu issued a tribute describing him as a “valued and treasured person who was generous with his heart and resources.”
“With friends like him, one can sleep with a still mind,” the president said.
