Security agencies investigating the alleged coup plot to overthrow President Bola Tinubu have identified two persons who allegedly funnelled N835 million through two private companies to bankroll and alleged conspiracy.
Former Bayelsa State Governor Timipre Sylva allegedly contributed the largest share of N785 million. Investigators alleged that the funds were transferred through Purple Waves Limited, an Abuja-based construction company. The firm’s secretary, John Ebokpo, has since 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 accused of being the principal financier of the failed plot and remains at large.
The former governor, who is still at large, has denied any role in the coup.
Mr Sylva’s precise connection to Purple Waves Limited is not immediately clear. Company records at the Corporate Affairs Commission (CAC) did not list him as a director or shareholder. The firm was registered in March 2009 for construction, building, and maintenance activities.
Efforts to call Mr Sylva on his known telephone line were unsuccessful. Attempts to contact his spokesperson, Julius Bokoru, and other directors of Purple Waves Limited also failed as calls to their known telephone numbers did not connect.
on Monday, a security guard at the location informed our reporter that the office had been shut down for about “four to five months” — a period that coincides with the wave of arrests made by security operatives in connection with the alleged coup.
The second alleged sponsor, Moses Zakwa, is accused of contributing N50 million through Clay Ring Services Limited, a Lagos-based firm where he is listed as a director. The company is registered for property renovation, development, and management services.
Little is known about Mr Zakwa. A search of his digital footprint yielded nothing. However, in 2014, a man bearing the same name led members of the Kibaku Youth Association in a peaceful protest at the Alausa Secretariat in Ikeja, demanding the release of abducted schoolgirls in Borno State. It is unclear whether that is the same individual now in the custody of security agencies.
Access TV report that other directors of Clay Ring Services, but their phone numbers were unreachable. Benjamin Okwumabua, one of the directors listed in the company’s CAC filings, said he is not related to the company.
Last month, the Defence Headquarters announced that investigations had been completed and forwarded to the “appropriate superior authority in line with extant regulations.”
The military disclosed that the findings identified “several officers with allegations of plotting to overthrow the government,” describing such conduct as “inconsistent with the ethics, values, and professional standards required of members of the Armed Forces of Nigeria.”
40 suspects are detained, including senior military officers across the armed forces, a police officer, and civilians allegedly involved in reconnaissance, funding, and propaganda operations of the coup.
The suspects were captured in a covert intelligence operation coordinated by the Army Headquarters and the State Security Service (SSS).
An unspecified number of civilians remain in custody, being investigated by the Economic and Financial Crimes Commission (EFCC) and the SSS for alleged roles in financing, logistics, and coordination. Others have been granted bail.
The investigation also identified retired Major General Adamu as one of the key figures connected to the network. Mr Adamu remains at large alongside Mr Sylva.
Intelligence sources disclosed that one of the fleeing suspects was tracked to a country in South America, though his exact location has not been officially disclosed for security reasons.
The alleged coup plotters initially planned to disrupt the handover of power from former President Buhari to President Tinubu on 29 May 2023, during the presidential inauguration.
However, the plan was suspended due to insufficient funds and inadequate logistical arrangements. The alleged conspirators reactivated their plans in 2025 after Mr Sylva wired the funds.
Sources said authorities are awaiting presidential approval to formally constitute a court-martial panel to try the soldiers involved.
The failed plot was allegedly masterminded by Alhassan Maaji, a colonel with service number N/10668. Mr Maaji and other military officers allegedly planned a violent takeover in which top government officials were marked for elimination.
The alleged plotters planned to assassinate President Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, Service Chiefs, and the Commander of the Guards Brigade, among others.
Some officers were also assigned to take full control of the Presidential Villa, the Niger Barracks, the Armed Forces of Nigeria (AFN) Complex, and the Nnamdi Azikiwe International Airport.
Investigators have since recovered two gun trucks, anti-aircraft guns, PKT guns, RPG bombs, AK-47 rifles, ammunition, and tactical gear from AA Hayatu, a lieutenant colonel attached to the 130 Battalion Main.
In addition to the weapons cache, investigators 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 the custody of the DIA,” one source said, adding that “recovered funds have been lodged into the Nigerian Army Corps of Military Police account domiciled with the Central Bank of Nigeria.”
