Security agencies probing the alleged coup plot to oust President Bola Ahmed Tinubu have reportedly traced ₦835 million to two private firms said to have been used to finance the conspiracy.
Investigations indicate that former Bayelsa State Governor, Timipre Sylva, allegedly provided ₦785 million through Purple Waves Limited, an Abuja-based construction company.
Authorities also identified one Moses Zakwa as allegedly contributing ₦50 million via Clay Ring Services Limited, a property firm based in Lagos.
According to Premium Times, security sources alleged that Sylva, who served as Minister of State for Petroleum Resources under former President Muhammadu Buhari, played a key financial role in the aborted plot.
Purple Waves Limited, the company through which the funds were allegedly channelled, was registered in March 2009 with a focus on construction and maintenance services.
The firm’s secretary, John Ebokpo, has reportedly been arrested and remains in custody.
Efforts to contact Sylva were unsuccessful as of press time. He had earlier denied any links to the alleged coup.
A visit to the company’s registered office in Abuja revealed that the premises had reportedly been closed for about four to five months, a period that coincides with arrests connected to the investigation.
Records at the Corporate Affairs Commission do not list Sylva as either a director or shareholder of the company.
The second alleged financier, Moses Zakwa, is reported to have channelled ₦50 million through Clay Ring Services Limited.
Very little information is available about Zakwa. Attempts to reach other directors listed for the company were unsuccessful, while one named director reportedly denied any association with the firm.
Last month, the Defence Headquarters announced that investigations into the alleged coup attempt had been concluded and forwarded to the “appropriate superior authority.”
The military stated that several officers were implicated, describing their actions as contrary to the ethics and professional standards of the Armed Forces of Nigeria.
Security sources disclosed that about 40 suspects are currently in detention, including senior military officers, a police officer, and civilians allegedly involved in reconnaissance, financing, and propaganda activities.
The covert operation was reportedly coordinated by Army Headquarters and the State Security Service (SSS), with certain civilian suspects also under investigation by the Economic and Financial Crimes Commission (EFCC).
Investigators are said to have identified a retired Major General Adamu as one of the central figures linked to the network. He is reportedly at large alongside Sylva.
Intelligence sources further revealed that one fugitive suspect was traced to a South American country, although authorities declined to provide additional details for security reasons.
Sources claimed that the alleged plotters initially intended to disrupt the May 29, 2023 presidential inauguration but shelved the plan due to inadequate funding and logistics.
The conspiracy was reportedly revived in 2025 after the alleged movement of funds.
The alleged ringleader, identified as Colonel Alhassan Maaji, was said to have coordinated plans for a forceful takeover.
Security sources claimed that President Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, Speaker Tajudeen Abbas, service chiefs, and the Commander of the Guards Brigade were among those allegedly targeted.
Some officers were reportedly assigned to take control of the Presidential Villa, Niger Barracks, the Armed Forces Complex, and the Nnamdi Azikiwe International Airport.
Investigators are said to have recovered two gun trucks, anti-aircraft guns, PKT guns, RPG bombs, AK-47 rifles, ammunition, and tactical equipment from one Lieutenant Colonel AA Hayatu of the 130 Battalion Main.
Security agencies also reportedly seized four Toyota Hilux trucks, one Toyota Prado SUV, two Toyota saloon cars, and 32 Volkswagen Golf vehicles allegedly acquired for covert missions.
“All recovered exhibits are in custody,” a source said, adding that the recovered funds have been deposited into a Nigerian Army Military Police account domiciled with the Central Bank of Nigeria.