Security agencies investigating the alleged coup plot to overthrow President Bola Ahmed Tinubu have reportedly traced ₦835 million in funding to two private companies allegedly used to bankroll the conspiracy.
According to Sources, former Bayelsa State Governor Timipre Sylva is linked to ₦785 million channeled through Purple Waves Limited, an Abuja-based construction firm registered in March 2009 for construction and maintenance services.
Investigators also identified one Moses Zakwa as having allegedly contributed ₦50 million through Clay Ring Services Limited, a Lagos-based property company.
Security sources claim Sylva, who served as Minister of State for Petroleum Resources under former President Muhammadu Buhari, played a principal role in financing the failed plot.
The company secretary of Purple Waves Limited, John Ebokpo, has reportedly been arrested and remains in detention.
Efforts to reach Sylva for comments were unsuccessful as of press time. The former governor had earlier denied any involvement in the alleged coup.
A visit to Purple Waves Limited’s listed Abuja office showed the premises had reportedly been shut for four to five months, coinciding with the wave of arrests linked to the investigation.
Corporate Affairs Commission records do not list Sylva as a director or shareholder of the company.
Little is known about Moses Zakwa. Efforts to reach other listed directors of Clay Ring Services Limited were unsuccessful, while one listed director reportedly denied any 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.
Investigators identified a retired Major General Adamu as one of the key figures connected to the network. He remains at large alongside Sylva and three other suspects.
Intelligence sources disclosed that one fleeing suspect was tracked to a country in South America, though authorities declined to provide further details for security reasons.
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.
Among the key targets marked for assassination were President Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, Speaker Tajudeen Abbas, service chiefs, and the Commander of the Guards Brigade.
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.
