Military investigators probing the alleged coup plot have reportedly uncovered a financial trail involving ₦45 billion allegedly disbursed from Niger Delta Development Commission (NDDC) accounts to politically exposed individuals and some soldiers detained in connection with the suspected plan to overthrow President Bola Tinubu’s administration.
Earlier this month, Sahara Reporters disclosed that 16 Nigerian Army officers had been detained over an alleged coup attempt. The publication linked the purported plot to the Federal Government’s decision to cancel Nigeria’s 65th Independence Day celebration.
However, the military, through its Director of Defence Information, Brig. Gen. Tukur Gusau, dismissed the report, insisting that the detention of the officers had no connection to any coup.
Multiple reports on Tuesday also indicated that Army personnel raided the Abuja home of former Bayelsa Governor and ex-Minister of State for Petroleum, Timipre Sylva, as part of the ongoing Defence Intelligence Agency (DIA) investigation into the alleged conspiracy.
Following the discovery, DIA officials interrogated several top NDDC executives to determine the source, beneficiaries, and utilisation of the funds.
The development has caused growing anxiety at the NDDC headquarters over possible links to the financing of subversive activities.
The Defence Headquarters has since denied the alleged coup attempt, describing reports of such as “false, misleading, and malicious,” adding that the detained officers were being investigated for professional misconduct rather than treason.
Although details of the DIA interrogation remain unclear, investigators are said to be reviewing a series of recent high-value transactions tied to politically exposed individuals. These reportedly include a ₦45bn shoreline project awarded to a former South-South governor, part of which allegedly found its way into accounts linked to some of the detained officers.
Security officials familiar with the probe confirmed that the questioning of NDDC executives was “part of a broader intelligence-driven inquiry into the movement of public funds.”
Sources at the NDDC said the development has triggered widespread tension among directors and senior staff, with many becoming increasingly cautious about their communications and movements.
An insider revealed, “Since the news broke about the interrogation of the top shots, the atmosphere here has been uneasy. Many directors are being cautious about their movements and communications.”
Executive directors believed to have close administrative ties to the questioned officials are said to be particularly unsettled.
NDDC spokesperson Seledi Thompson-Wakama declined to comment when asked about the ongoing investigation.
Meanwhile, Sylva has denied any involvement in the alleged coup. His media aide, Julius Bokoru, described the rumours as the handiwork of “desperate and self-seeking politicians trying to actualise their ambitions in 2027.”
Reports earlier revealed that Sylva’s Abuja home was raided by DIA operatives investigating the coup allegations. During the operation, which occurred on Saturday, the agents arrested Sylva’s younger brother, Paga, who serves as his Special Assistant on Domestic Affairs, along with his driver.
Sylva, who was out of the country at the time, was said to be in the United Kingdom for medical checks before proceeding to Malaysia for a professional conference.
Bokoru confirmed that no items were taken during the raid but stated that the two men arrested remain in custody. A close associate also told The PUNCH that doors and appliances were damaged during the operation, though nothing incriminating was found.
He dismissed speculation linking NDDC Managing Director, Dr. Samuel Ogbuku, to the alleged coup, noting that Ogbuku, who once served as Sylva’s Chief of Staff, denied any arrest or involvement.
In a separate statement titled “Setting the record straight on recent false reports about Sylva,” Bokoru reiterated that Sylva “has no involvement whatsoever—either in planning or in logistics—with any such plot,” emphasizing his long-standing commitment to democratic governance and support for President Bola Ahmed Tinubu.
He said, “Chief Sylva is a thoroughbred democrat whose political journey has been defined by faith in democratic processes and institutions,” adding that the circulating reports were driven by “desperate politicians consumed by ambitions for 2027.”
