THE Presidency on Monday confirmed that President Bola Tinubu has conferred the national honour of Grand Commander of the Order of the Niger on billionaire businessman Gilbert Chagoury.
The President’s Special Adviser on Information and Strategy, Bayo Onanuga, confirmed the conferment to this newspaper on Monday night.
“It is true. He had conferred the title on him,” Onanuga told our correspondent, adding, “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.”
News Point Nigeria had earlier reported that Tinubu conferred the honorary title on the renowned entrepreneur and philanthropist.
The GCON is one of Nigeria’s highest national honours, typically reserved for Vice Presidents, Senate Presidents, Speakers of the House of Representatives, and Chief Justices.
According to a copy of the instrument of conferment sighted by PUNCH Online, the honour was given at Abuja on January 8, 2026, the same day Chagoury marked his 80th birthday.
The document, signed by Tinubu, stated that the honour was conferred “In recognition of your outstanding virtues and in appreciation of your services to our country, Nigeria.”
Chagoury, a Nigerian-Lebanese billionaire, is the co-founder of the Chagoury Group, a conglomerate with interests in construction, real estate, property development, flour mills, water bottling, glass manufacturing, insurance, hotels, furniture manufacturing, telecommunications, and catering.
Born on January 8, 1946, in Lagos to Lebanese immigrant parents, Chagoury co-founded the group with his younger brother, Ronald, in 1971.
The Chagoury Group is behind some of Nigeria’s most iconic developments, including Banana Island and the ongoing Eko Atlantic City project, a massive land reclamation initiative on Victoria Island, Lagos.
In 2024, Chagoury’s Hitech Construction Company was awarded the multi-billion-naira Lagos-Calabar Coastal Highway contract by the Tinubu administration, a deal that drew criticism from opposition figures over the absence of open competitive bidding.
Chagoury also owns the Eko Hotels and Suites and the Oriental Hotel, two of the most prominent hospitality establishments in Lagos.
Despite his business achievements, Chagoury’s career has not been without controversy.
He was a known associate of the late military leader, General Sani Abacha, who ruled Nigeria from 1993 until he died in 1998.
After Abacha’s death, Chagoury returned an estimated $300m to the Nigerian government to secure indemnity from possible criminal charges related to money laundering.
In 2000, Swiss prosecutors convicted Chagoury in connection with laundering funds tied to Abacha’s regime. He agreed to forfeit $66 million to the Nigerian government as part of a settlement.
Chagoury has also faced scrutiny in the United States.
In 2010, the U.S. Department of Homeland Security apologised to him after detaining him at Teterboro Airport for over four hours because his name appeared on a no-fly list.
In 2018, he and two associates resolved a federal investigation into an alleged conspiracy to violate U.S. federal election laws.
The relationship between Tinubu and Chagoury dates back to the former’s time as Lagos State Governor from 1999 to 2007.
In 2024, Tinubu’s main contender at the 2023 polls, former Vice President Atiku Abubakar, criticised the ties between the two families, noting that Tinubu’s son, Seyi Tinubu, co-owned an offshore company with Ronald Chagoury Jr., Gilbert’s nephew, according to documents reviewed by the International Consortium of Investigative Journalists.
Chagoury accompanied Tinubu on his state visit to France in December 2024, participating in events aimed at advancing economic partnerships.