RismadarVoice Reporters
January 20, 2026
The Presidency has confirmed that President Bola Ahmed Tinubu has conferred the national honour of Grand Commander of the Order of the Niger (GCON) on billionaire businessman and philanthropist, Gilbert Chagoury.
The President’s Special Adviser on Information and Strategy, Mr Bayo Onanuga, confirmed the conferment to PUNCH Online on Monday night.
“It is true. He conferred the title on him,” Onanuga said, adding that the honour was bestowed on Chagoury’s 80th birthday in recognition of his contributions to Nigeria’s economy, particularly in the hospitality and business sectors.
TVC had earlier reported the conferment on the renowned entrepreneur.
The GCON is one of Nigeria’s highest national honours, traditionally reserved for top public office holders such as Vice Presidents, Senate Presidents, Speakers of the House of Representatives, and Chief Justices of Nigeria.
According to a copy of the instrument of conferment sighted by PUNCH Online, the honour was awarded in Abuja on January 8, 2026, the same day Chagoury turned 80. The document, signed by President Tinubu, stated that the award was given:
“In recognition of your outstanding virtues and in appreciation of your services to our country, Nigeria.”
Business Career and Influence
Gilbert Chagoury, a Nigerian-Lebanese businessman, is the co-founder of the Chagoury Group, a conglomerate with interests spanning construction, real estate, property development, flour milling, water bottling, glass manufacturing, insurance, hotels, furniture production, telecommunications, and catering.
Born on January 8, 1946, in Lagos to Lebanese immigrant parents, Chagoury co-founded the group with his younger brother, Ronald Chagoury, in 1971.
The Chagoury Group is behind several landmark developments in Nigeria, including Banana Island and the ongoing Eko Atlantic City project, a large-scale land reclamation initiative on Victoria Island, Lagos. The group also owns major hospitality brands such as Eko Hotels and Suites and The Oriental Hotel, both in Lagos.
In 2024, Chagoury’s Hitech Construction Company was awarded the Lagos–Calabar Coastal Highway contract by the Tinubu administration, a project valued in the multi-billion-naira range. The award attracted criticism from opposition figures over concerns about the absence of open competitive bidding.
Controversies and Past Scrutiny
Despite his business success, Chagoury’s career has been marked by controversy. He was a known associate of the late military ruler, General Sani Abacha, who governed Nigeria from 1993 until his death in 1998.
Following Abacha’s death, Chagoury reportedly returned an estimated $300 million to the Nigerian government to secure indemnity from potential criminal charges related to money laundering. In 2000, Swiss prosecutors convicted him in connection with laundering funds linked to Abacha’s regime, leading to the forfeiture of $66 million to Nigeria 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 for over four hours at Teterboro Airport, New Jersey, due to his name appearing on a no-fly list. In 2018, he and two associates resolved a federal investigation into allegations of conspiracy to violate U.S. campaign finance laws.
Longstanding Ties to Tinubu
The relationship between President Tinubu and Chagoury dates back to Tinubu’s tenure as Governor of Lagos State (1999–2007). In 2024, former Vice President Atiku Abubakar, Tinubu’s main rival in the 2023 presidential election, publicly criticized the ties between the two families. Atiku cited documents reviewed by the International Consortium of Investigative Journalists (ICIJ), which indicated that Tinubu’s son, Seyi Tinubu, co-owned an offshore company with Ronald Chagoury Jr., Gilbert Chagoury’s nephew.
