Exclusive: Two Nigerians accused of bankrolling alleged coup plot to overthrow Tinubu

Former Bayelsa State Governor Timipre Sylva has been accused by investigators of contributing the largest share,  N785 million, to finance an alleged failed coup plot, according to reports.

The funds were reportedly transferred through Purple Waves Limited, an Abuja-based construction company. The firm’s secretary, John Ebokpo, has been arrested by security operatives and remains in detention.

Mr Sylva, who served as Minister of State for Petroleum Resources under former President Muhammadu Buhari, is alleged to be the principal financier of the plot and is currently at large. He has denied any involvement in the alleged coup.

Company records at the Corporate Affairs Commission (CAC) do not list Mr Sylva as a director or shareholder of Purple Waves Limited.

The company was registered in March 2009 for construction and maintenance services.

When reporters visited its Abuja office, a security guard reportedly stated that the premises had been closed for four to five months, coinciding with a wave of arrests linked to the alleged conspiracy.

A second alleged sponsor, Moses Zakwa, is accused of contributing N50 million through Clay Ring Services Limited, a Lagos-based property development firm where he is listed as a director.

Efforts to reach him and other directors reportedly failed, and one listed director, Benjamin Okwumabua, denied any connection to the company.

Last month, the Defence Headquarters announced that investigations into the alleged coup had been concluded and forwarded to the appropriate superior authority.

The military disclosed that several officers were identified with allegations of plotting to overthrow the government, describing such conduct as inconsistent with the ethics and professional standards of the Armed Forces.

Reports indicate that about 40 suspects are currently detained, including senior military officers, a police officer, and civilians allegedly involved in reconnaissance, funding, and propaganda operations.

The arrests followed a covert intelligence operation coordinated by Army Headquarters and the State Security Service (SSS).

Civilians are also reportedly being investigated by the Economic and Financial Crimes Commission (EFCC) and the SSS over alleged roles in financing and logistics. Some suspects have been granted bail, while others remain in custody.

Retired Major General Adamu was identified by intelligence sources as another key figure connected to the alleged network and remains at large alongside Mr Sylva.

One fleeing suspect was reportedly tracked to a South American country, though authorities have not disclosed the specific location.

The alleged plot was said to have initially targeted the disruption of the 29 May 2023 presidential handover from former President Buhari to President Bola Ahmed Tinubu.

The plan was reportedly suspended due to inadequate funding and logistics but allegedly revived in 2025 after the funds were wired.

Authorities are said to be awaiting presidential approval to constitute a court-martial panel to try the implicated soldiers.

Sources alleged that the plot was masterminded by Colonel Alhassan Maaji and involved plans for a violent takeover, with top government officials marked for elimination.

Reportedly targeted individuals included President Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, Speaker Tajudeen Abbas, service chiefs, and the Commander of the Guards Brigade.

Investigators reportedly recovered two gun trucks, anti-aircraft guns, PKT guns, RPG bombs, AK-47 rifles, ammunition, and tactical gear from a lieutenant colonel attached to the 130 Battalion.

Several vehicles, including Toyota Hilux trucks, a Prado SUV, saloon cars, and 32 Volkswagen Golf vehicles, were also allegedly seized for use in covert operations.

According to sources, all recovered exhibits are currently in the custody of the Defence Intelligence Agency (DIA), while recovered funds have been lodged with the Nigerian Army Corps of Military Police account domiciled at the Central Bank of Nigeria.

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