Security agencies investigating the alleged coup plot to overthrow President Bola Ahmed Tinubu have reportedly traced ₦835 million to two private companies allegedly used to bankroll the conspiracy.
Findings revealed that former Bayelsa State Governor, Timipre Sylva, allegedly contributed ₦785 million through Purple Waves Limited, an Abuja-based construction firm.
Investigators also identified one Moses Zakwa as having allegedly contributed ₦50 million through Clay Ring Services Limited, a Lagos-based property firm.
According to Premium Times, security sources alleged that Sylva, a former Minister of State for Petroleum Resources under ex-President Muhammadu Buhari, played a principal financing role in the failed plot.
The firm through which the funds were allegedly routed, Purple Waves Limited, was registered in March 2009 for construction and maintenance services.
The company’s secretary, John Ebokpo, has reportedly been arrested and remains in detention.
Attempts to reach Sylva were unsuccessful as of press time. He had earlier denied any involvement in the alleged coup.
A visit to the firm’s listed Abuja office showed that the premises had reportedly been shut for about four to five months, coinciding with ongoing arrests linked to the investigation.
Company records at the Corporate Affairs Commission did not list Sylva as a director or shareholder.
The second alleged sponsor, Moses Zakwa, is said to have channelled ₦50 million through Clay Ring Services Limited.
Little is known about Zakwa. Efforts to reach other listed directors of the company were unsuccessful, while one listed director reportedly denied affiliation with the firm.
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 implicated, describing their conduct as inconsistent with the ethics and professional standards of the Armed Forces of Nigeria.
Security sources revealed 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 covert intelligence operation was reportedly coordinated by Army Headquarters and the State Security Service (SSS), with some civilians also being investigated by the Economic and Financial Crimes Commission.
The investigation reportedly identified a retired Major General Adamu as one of the key figures connected to the network. He is said to be at large alongside Sylva.
Intelligence sources also disclosed that one fleeing suspect was tracked to a country in South America, though authorities declined to disclose further details for security reasons.
Sources claimed the alleged plotters initially planned to disrupt the May 29, 2023 presidential inauguration but suspended the plan due to insufficient funding and logistics.
The conspiracy was reportedly reactivated in 2025 following the alleged transfer of funds.
The alleged mastermind, identified as Colonel Alhassan Maaji, was said to have coordinated plans for a violent takeover.
Security sources claimed that President Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, Speaker Tajudeen Abbas, service chiefs, and the Commander of the Guards Brigade were among those allegedly marked as targets.
Some officers were also allegedly assigned to seize control of the Presidential Villa, Niger Barracks, the Armed Forces Complex, and the Nnamdi Azikiwe International Airport.
Investigators reportedly recovered two gun trucks, anti-aircraft guns, PKT guns, RPG bombs, AK-47 rifles, ammunition, and tactical gear from one Lieutenant Colonel AA Hayatu of the 130 Battalion Main.
Security agencies also seized four Toyota Hilux trucks, one Toyota Prado SUV, two Toyota saloon cars, and 32 Volkswagen Golf vehicles allegedly procured for covert operations.
“All recovered exhibits are in custody,” a source said, adding that recovered funds have been lodged into a Nigerian Army Military Police account domiciled with the Central Bank of Nigeria.
