Tinubu Confers GCON on Billionaire Ally Gilbert Chagoury Amid Controversy

President Tinubu has conferred GCON on Billionaire Ally Gilbert Chagoury amid controversy and alleged links to Late Military Dictator.

 

NewsOnline Nigeria reports that President Bola Ahmed Tinubu has awarded Nigeria’s second-highest national honour, Grand Commander of the Order of the Niger (GCON), to Lebanese-Nigerian billionaire Gilbert Chagoury, a long-time associate of the President.

The honour was reportedly conferred on January 8, the same day Chagoury celebrated his 80th birthday, but it only became public on Monday after billionaire businessman Femi Otedola shared a copy of the conferment certificate on X (formerly Twitter).

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Presidency sources confirmed the authenticity of the award to Premium Times but noted that the Presidency may not issue an official statement on the conferment.

Otedola Praises Chagoury’s Legacy

 

In a congratulatory message, Otedola described Chagoury as a mentor and commended his contributions to Lagos’ growth and development.

“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.

“From Banana Island to Eko Atlantic City, your work speaks in landmarks, jobs, and lasting impact, inspiring generations of Nigerians to think bigger and act bolder.”

Business Interests and Major Projects

Chagoury is the founder of the Chagoury Group, a conglomerate with interests spanning construction, real estate, hospitality, healthcare, telecommunications, water purification, flour milling, insurance, furniture manufacturing, catering, and international finance.

The group is currently involved in several major infrastructure projects, including the $11 billion Lagos–Calabar coastal highway and the ₦1.1 trillion rehabilitation of Tincan and Apapa Ports.

Long-Standing Relationship with Tinubu

Chagoury has maintained close business and personal ties with President Tinubu dating back to Tinubu’s tenure as Governor of Lagos State (1999–2007). In 2023, he was listed as a confidant in Nigeria’s delegation to COP28 in Dubai.

In a previous birthday tribute, Tinubu described Chagoury as a “valued and treasured person” known for generosity and loyalty.

Corporate records also show links between the two families, including past business relationships involving Seyi Tinubu, the President’s son, and members of the Chagoury family.

Past Controversies

Despite his business success, Chagoury has been linked to past financial controversies. International investigators previously connected him to funds looted during the regime of late military ruler General Sani Abacha.

In 2000, Chagoury was convicted in Switzerland for money laundering and aiding a criminal organisation, after helping set up accounts used to move over $120 million from Nigeria. He later paid fines and refunded $66 million to the Nigerian government.

Despite the conviction, Chagoury has continued to expand his business operations in Nigeria, maintaining strong ties with successive governments, an arrangement critics say has raised concerns over transparency in public contract awards.