Honour royal, ignoring no good President (5)

I believe the answer is:

mbeki

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'president' is the definition.
I know nothing about this answer so I cannot tell whether it can be defined by this definition.

'honour royal ignoring no good' is the wordplay.
'honour' becomes 'MBE' (Member of the British Empire award).
'royal' becomes 'king' (a king is royal).
'ignoring' is a deletion indicator.
'no good' becomes 'ng' (abbreviation).
'king' with 'ng' taken out is 'ki'.
'mbe'+'ki'='MBEKI'

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