President Bola Ahmed Tinubu has conferred the Grand Commander of the Order of the Niger (GCON) on his longtime affiliate, Gilbert Chagoury, in recognition of his contributions to Nigeria.
In a letter obtained by Politics Nigeria, the president said that Chagoury acquired the nation’s second-highest honour for his excellent service to the nation.
He wrote, “In train of the powers vested in me beneath part 1(4) of the Nationwide Honours Act, I, BOLA AHMED TINUBU, President of the Federal Republic of Nigeria, in recognition of your excellent virtues and in appreciation of your companies to our nation, Nigeria,
“HEREBY award to you to have, and revel in title, dignity and all of the privileges of Grand Commander of the Order of the Niger (GCON) GIVEN at Abuja beneath my Hand and the Public Seal of the Federal Republic of Nigeria.”
Responding to the award, billionaire businessman Femi Otedola described the honour as well-deserved and praised Chagoury’s legacy in enterprise and nationwide improvement.
“Your life is a masterclass in imaginative and prescient, self-discipline, and regular excellence,” Otedola wrote, highlighting Chagoury’s position in main actual property and infrastructure initiatives which have created jobs and left a long-lasting affect on Nigeria’s city panorama.”
Otedola concluded by reaffirming his admiration for Chagoury: “This honour is actually properly deserved. I have a good time you at the moment and all the time.”
Chagoury, a Lebanese-Nigerian born to Lebanese immigrant dad and mom in Lagos, co-founded the Chagoury Group in 1971 along with his youthful brother, Ronald Chagoury. The conglomerate has pursuits spanning building, accommodations, furnishings, telecommunications, and others.
In 2000, Swiss prosecutors convicted Chagoury in reference to laundering funds tied to Abacha’s looting. He agreed to forfeit $66 million to the Nigerian authorities, a settlement that permit him keep away from jail. On the time, Swiss authorities described him as a key handler of illicit state funds.
In 2024, controversy arose when Tinubu awarded the $11 billion Lagos-Calabar Coastal Freeway undertaking to Chagoury’s Hitech, a transfer criticised for the absence of public bidding and the longtime affiliation between the president and Chagoury.