N835m Alleged Coup Funding: Sylva, Zakwa Named as Key Sponsors
Security agencies investigating the alleged plot to overthrow President Bola Tinubu have identified two individuals accused of providing N835 million to finance the conspiracy.
Investigators allege that former Bayelsa State Governor, Timipre Sylva, contributed N785 million through Purple Waves Limited, an Abuja-based construction firm. The company’s secretary, John Ebokpo, has been arrested and remains in custody.
Mr Sylva, who also served as Minister of State for Petroleum Resources under former President Muhammadu Buhari, is accused of being the principal financier of the alleged plot. He has denied any involvement and is currently at large.
Corporate records from the Corporate Affairs Commission do not list Mr Sylva as a director or shareholder of Purple Waves Limited, which was registered in March 2009 for construction and maintenance services. Efforts to reach him and his associates were unsuccessful.
A visit to the company’s registered address in Abuja revealed that the office had been shut for about four to five months, according to a security guard at the premises.
The second alleged sponsor, Moses Zakwa, is accused of providing N50 million through Clay Ring Services Limited, a Lagos-based property development firm where he is listed as a director. Attempts to reach other directors of the company were unsuccessful. One listed director, Benjamin Okwumabua, denied any association with the firm.
Last month, the Defence Headquarters announced that investigations into the alleged coup had been concluded and forwarded to the appropriate authorities in line with existing regulations. The military said several officers were implicated in activities described as inconsistent with the ethics and professional standards of the Armed Forces of Nigeria.
About 40 suspects, including senior military officers, a police officer and civilians, are currently detained. They were apprehended during a covert intelligence operation coordinated by the Army Headquarters and the State Security Service. Some civilians are being investigated by the Economic and Financial Crimes Commission and the State Security Service for alleged roles in funding and logistics, while others have been granted bail.
The investigation also identified retired Major General Adamu as a key figure in the network. He remains at large alongside Mr Sylva.
Intelligence sources disclosed that one fleeing suspect has been tracked to a South American country, though authorities have not disclosed further details.
According to sources, the alleged plot was initially conceived to disrupt the May 29, 2023, inauguration of President Tinubu but was suspended due to funding and logistical constraints. The plan was allegedly revived in 2025 after the funds were transferred.
The alleged conspiracy was said to have been led by Alhassan Maaji, a colonel identified by service number N/10668. He and other officers allegedly planned a violent takeover targeting top government officials.
Sources said the alleged targets included President Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, Speaker Tajudeen Abbas, service chiefs and the Commander of the Guards Brigade. Some officers were also reportedly assigned to seize strategic locations, including 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 a lieutenant colonel attached to the 130 Battalion Main.
Authorities also seized four Toyota Hilux trucks, one Toyota Prado SUV, two Toyota saloon cars and 32 Volkswagen Golf vehicles allegedly procured for covert operations.
Security sources said all recovered exhibits are in the custody of the Defence Intelligence Agency, while recovered funds have been deposited into the Nigerian Army Corps of Military Police account domiciled with the Central Bank of Nigeria.
Authorities are awaiting presidential approval to constitute a court-martial panel to try the implicated military officers.
