Exclusive: Security Probe Names Two Alleged Financiers In Tinubu Overthrow Plot
Following the Money
FRESH details have emerged in the ongoing investigation into an alleged plot to overthrow President Bola Tinubu, with security agencies tracing ₦835 million in suspected funding to two private companies and their promoters.
Investigators say former Bayelsa State Governor Timipre Sylva allegedly contributed ₦785 million—described as the largest share of the funds—through an Abuja-based construction firm, Purple Waves Limited. The company’s secretary, John Ebokpo, has been arrested and remains in detention.
Mr. Sylva, who also served as Minister of State for Petroleum Resources under former President Muhammadu Buhari, has denied any involvement in the alleged coup. However, investigators describe him as a principal financier who is currently at large.
Corporate filings at the Corporate Affairs Commission do not list Mr. Sylva as a director or shareholder of Purple Waves Limited, which was registered in 2009 for construction and maintenance services. Attempts to reach the former governor and his associates were unsuccessful. When reporters visited the company’s Abuja office, a security guard said it had been shut for several months—roughly coinciding with the wave of arrests tied to the alleged conspiracy.
The Second Alleged Sponsor
The second figure identified by investigators is Moses Zakwa, who allegedly channelled ₦50 million through Clay Ring Services Limited, a Lagos-based property development firm where he is listed as a director.
Little is publicly known about Mr. Zakwa. Efforts to contact other directors of the firm proved unsuccessful, while one individual named in company records denied any association.
Security sources have not clarified whether the Moses Zakwa now in custody is the same individual who, in 2014, reportedly participated in civic protests in Lagos.
A Broader Network
Last month, the Defence Headquarters confirmed that investigations into the alleged coup had been concluded and forwarded to higher authorities for further action. About 40 suspects—including senior military officers, a police officer and civilians—are reportedly in detention.
The operation was coordinated by Army Headquarters and the State Security Service (SSS), with additional probes involving the Economic and Financial Crimes Commission (EFCC).
Retired Major General Adamu and Mr. Sylva are among those said to be at large. Intelligence sources indicated that one fleeing suspect has been tracked to a South American country.
The Alleged Plot
Investigators say the conspiracy initially targeted the 29th May 2023 inauguration ceremony marking the transition from Mr. Buhari to Mr. Tinubu. The plan was allegedly postponed due to insufficient funds and logistical setbacks, only to be revived in 2025 after fresh financing was secured.
The alleged mastermind is identified as Colonel Alhassan Maaji. According to intelligence sources, the group planned a violent takeover involving the assassination of top officials, including Vice President Kashim Shettima, Senate President Godswill Akpabio, and House Speaker Tajudeen Abbas.
Some officers were reportedly assigned to seize strategic locations such as the Presidential Villa, Niger Barracks, the Armed Forces Complex and Nnamdi Azikiwe International Airport.
Weapons and Assets Recovered
Authorities say they have 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.
In addition, security operatives seized multiple vehicles—including Toyota Hilux trucks, a Toyota Prado SUV and dozens of Volkswagen Golf cars—allegedly procured for covert operations.
Recovered exhibits are now in the custody of the Defence Intelligence Agency, while seized funds have reportedly been lodged in an account held by the Nigerian Army Corps of Military Police at the Central Bank of Nigeria.
Awaiting Court-Martial
Authorities are said to be awaiting presidential approval to constitute a court-martial panel to try the military officers involved.
As the investigation unfolds, the alleged financing trail has become central to the case—raising questions about corporate vehicles, political networks and the resilience of Nigeria’s democratic institutions.
