Two Individuals Allegedly Funded Plot to Overthrow President Tinubu

Security agencies investigating the alleged coup plot against President Bola Tinubu have identified two individuals accused of providing N835 million through private companies to finance the conspiracy, PREMIUM TIMES has exclusively learned.

Former Bayelsa State Governor Timipre Sylva is alleged to have contributed the larger portion — N785 million — reportedly transferred through Purple Waves Limited, an Abuja-based construction company. The company’s secretary, John Ebokpo, has been arrested and remains in detention.

Mr. Sylva, who previously served as Minister of State for Petroleum Resources under former President Muhammadu Buhari, is accused by investigators of being the principal financier of the alleged plot. He remains at large and has denied any involvement.

Although PREMIUM TIMES had earlier reported on his alleged role, the specific amount linked to him has only now emerged. However, his direct connection to Purple Waves Limited remains unclear, as Corporate Affairs Commission (CAC) records do not list him as a director or shareholder. The company was registered in March 2009 for construction and maintenance services.

Efforts to reach Mr. Sylva via his known phone line were unsuccessful. Attempts to contact his spokesperson, Julius Bokoru, and other directors of Purple Waves Limited also failed, as their phone numbers were unreachable.

A visit by PREMIUM TIMES to the company’s Abuja office on Monday revealed that it had reportedly been closed for “four to five months,” according to a security guard — a period that coincides with the wave of arrests related to the alleged coup investigation.

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

Little information is available about Mr. Zakwa. A digital search yielded no substantial records. However, in 2014, an individual bearing the same name reportedly led members of the Kibaku Youth Association in a peaceful protest at the Alausa Secretariat in Ikeja, calling for the release of abducted schoolgirls in Borno State. It remains unclear whether this is the same person currently in custody.

PREMIUM TIMES also attempted to reach other directors of Clay Ring Services, but their phone numbers were not accessible. One listed director, Benjamin Okwumabua, denied any association with the company.

Last month, the Defence Headquarters announced that investigations into the alleged coup plot had been concluded and forwarded to the appropriate authorities in line with regulations.

The military stated that the findings implicated “several officers with allegations of plotting to overthrow the government,” describing such actions as inconsistent with the values and professional standards of the Armed Forces of Nigeria.

PREMIUM TIMES previously reported that 40 suspects are currently detained, including senior military officers, a police officer, and several civilians allegedly involved in reconnaissance, funding, and propaganda activities linked to the plot.

The suspects were reportedly apprehended in a covert intelligence operation coordinated by Army Headquarters and the State Security Service (SSS). An unspecified number of civilians remain under investigation by the Economic and Financial Crimes Commission (EFCC) and the SSS for alleged involvement in financing and logistics, while others have been granted bail.

Investigators also identified retired Major General Adamu as a key figure connected to the alleged network. He remains at large alongside Mr. Sylva. Intelligence sources indicated that one fleeing suspect was traced to a country in South America, though further details have not been disclosed for security reasons.

Earlier reports indicated that the alleged plotters initially planned to disrupt the handover of power from former President Buhari to President Tinubu on 29 May 2023 but suspended the effort due to insufficient funding and logistical challenges. Authorities believe the plans were revived in 2025 after the alleged transfer of funds.

Sources said officials are awaiting presidential approval to establish a court-martial panel to try the implicated military personnel.

The alleged plot was reportedly masterminded by Colonel Alhassan Maaji, along with other officers. Investigators allege the group planned a violent takeover, targeting senior government officials and strategic institutions.

Authorities have since recovered various weapons and vehicles allegedly linked to the operation, including gun trucks, firearms, ammunition, and tactical equipment. Several vehicles purportedly acquired for covert operations were also seized.

According to a source, all recovered exhibits are currently in the custody of the Defence Intelligence Agency (DIA), while recovered funds have been lodged into an account maintained by the Nigerian Army Corps of Military Police at the Central Bank of Nigeria.