Abuja
Security agencies investigating an alleged plot to overthrow President Bola Ahmed Tinubu say they have traced ₦835 million in suspected funding to two private companies, with former Bayelsa State governor Timipre Sylva named among individuals under scrutiny.
According to findings cited by security sources, ₦785 million was allegedly channelled through Purple Waves Limited, an Abuja-based construction firm. Investigators claim Sylva played a principal financing role in what authorities describe as a coordinated conspiracy to destabilise the government.
An additional ₦50 million was reportedly traced to Clay Ring Services Limited, a Lagos-based property company linked to an individual identified as Moses Zakwa.
The company secretary of Purple Waves Limited, John Ebokpo, has reportedly been arrested and remains in detention. A visit to the firm’s registered office in Abuja indicated the premises had been closed for several months — a development said to coincide with arrests connected to the probe.
Records at the Corporate Affairs Commission do not list Sylva as a director or shareholder of the company.
Efforts to reach the former governor for comment were unsuccessful as of press time. Sylva, who also served as Minister of State for Petroleum Resources under former President Muhammadu Buhari, has previously denied any involvement in the alleged coup plot.
Little public information is available about Zakwa. Attempts to contact other listed directors of Clay Ring Services Limited were unsuccessful, while one director reportedly denied any affiliation with the company.
Last month, the Defence Headquarters announced that investigations into the alleged coup attempt had been concluded and forwarded to the appropriate authorities for further action.
The military said several officers were implicated, describing their actions as inconsistent with the ethics and professional standards of the Armed Forces of Nigeria.
Security sources disclosed that approximately 40 suspects are currently in detention. Those reportedly include senior military officers, a police officer and civilians allegedly involved in reconnaissance, funding coordination and propaganda activities.
The operation was said to have been coordinated by Army Headquarters and the Department of State Services, with some civilian suspects also under investigation by the Economic and Financial Crimes Commission (EFCC).
Investigators identified a retired Major General, Adamu, as a key figure linked to the alleged network. He is said to be at large alongside Sylva. Intelligence sources further claimed that one fleeing suspect was traced to a South American country, though authorities declined to disclose further details for security reasons.
According to investigators, the alleged plotters initially planned to disrupt the May 29, 2023 presidential inauguration but abandoned the move due to logistical and financial setbacks. The plan was reportedly revived in 2025 following renewed financial transfers.
The alleged mastermind was identified as Colonel Alhassan Maaji, who is said to have coordinated plans for a violent takeover.
Among the reported targets were President Tinubu; Vice President Kashim Shettima; Senate President Godswill Akpabio; Speaker Tajudeen Abbas; service chiefs; and the Commander of the Guards Brigade.
Authorities alleged that some officers were assigned to seize strategic locations, including the Presidential Villa, Niger Barracks, the Armed Forces Complex, and the Nnamdi Azikiwe International Airport in Abuja.
Security operatives reportedly recovered two gun trucks, anti-aircraft guns, PKT machine guns, RPG bombs, AK-47 rifles, ammunition, and tactical gear from a serving officer identified as Lieutenant Colonel A.A. Hayatu of the 130 Battalion.
Officials also said they seized four Toyota Hilux trucks, one Toyota Prado SUV, two Toyota saloon cars, and 32 Volkswagen Golfs, allegedly procured for covert operations.
“All recovered exhibits are in custody,” a source said, adding that seized funds have been lodged into a Nigerian Army Military Police account domiciled with the Central Bank of Nigeria.
While security agencies say investigations have been concluded, formal charges have not yet been announced against all named individuals.
The unfolding case represents one of the most serious alleged threats to Nigeria’s democratic order in recent years. As legal processes advance, attention will likely turn to whether prosecutors can substantiate the sweeping claims in open court.
Authorities say further updates will be provided as proceedings move to the next stage.