Last month, the Defence Headquarters announced it had concluded investigations into an alleged plot to overthrow Bola Tinubu and forwarded its findings to the appropriate authorities.
According to an exclusive report by Premium Times, investigators traced about N835 million allegedly used to finance the conspiracy to two private companies.
Former Bayelsa State Governor Timipre Sylva is accused of providing N785 million through Purple Waves Limited, an Abuja-based construction firm. The company’s secretary, John Ebokpo, has reportedly been arrested, while Mr Sylva—who denies any involvement—remains at large.
A second individual, Moses Zakwa, allegedly transferred N50 million through Clay Ring Services Limited, a Lagos-based company where he is listed as a director. Efforts to reach company officials were unsuccessful.
The military said its findings implicated several officers and described the alleged conduct as contrary to the professional standards of the Armed Forces. About 40 suspects—including senior military officers, a police officer, and civilians—are reportedly in detention following a covert operation coordinated by the Army Headquarters and the State Security Service. Some civilians are also being investigated by the Economic and Financial Crimes Commission.
According to PREMIUM TIMES, sources said the alleged plot was initially conceived around the May 29, 2023 presidential inauguration but was abandoned due to funding and logistical challenges before being revived in 2025. Authorities are reportedly awaiting presidential approval to set up a court-martial for the implicated officers.