Security Agencies Identify Two Suspects in Alleged Coup Plot Financing
Security agencies investigating an alleged coup plot against President Bola Ahmed Tinubu have identified two individuals accused of funneling substantial funds through private companies to bankroll the operation. The investigation has revealed financial transactions totaling N835 million allegedly directed toward the plot to overthrow the government.
Former Governor Timipre Sylva Named as Principal Financier
According to security reports, former Bayelsa State Governor and Minister of State for Petroleum Resources, Timipre Sylva, is accused of contributing N785 million through Purple Waves Limited, an Abuja-based construction company. The company, registered in March 2009 for construction, building, and maintenance activities, allegedly served as a conduit for the funds.
Security operatives have arrested and detained John Ebokpo, the secretary of Purple Waves Limited, as part of the investigation. However, Sylva's precise connection to the company remains unclear, as records from the Corporate Affairs Commission (CAC) do not list him as a director or shareholder. The former governor, who is currently at large, has publicly denied any involvement in the alleged coup plot.
Second Suspect Moses Zakwa Accused of Contributing N50 Million
The second individual identified in the investigation is Moses Zakwa, accused of contributing N50 million through Clay Ring Services Limited, a Lagos-based company specializing in property renovation, development, and management services. Zakwa is listed as a director in the company, which has been implicated in the financial scheme supporting the alleged plot.
Background on the Alleged Coup Plot and Military Response
The allegations stem from a probe by Nigeria's military, which in 2025 arrested 16 officers for misconduct, with suspicions that some were involved in plotting to overthrow President Tinubu's government. These officers, detained in October 2025, are set to face a military judicial panel. In response to security threats, President Tinubu replaced Nigeria's service chiefs in October 2025 in a sweeping shake-up aimed at bolstering military leadership and addressing multiple armed challenges across the country.
This case adds to a series of investigations into alleged coup plots, including the involvement of Islamic cleric Sheikh Sani Abdulkadir Zaria, who was transferred to the Department of State Services (DSS) after accusations linked to the plot. A Federal High Court in Abuja had ordered his production for a bail hearing, but his counsel reported he was moved instead, with family sources connecting his detention to a financial transaction tied to a follower implicated in the coup allegations.
The ongoing investigations highlight the government's focus on national security and the legal processes unfolding to address these serious accusations.
