Alleged N835m Coup Plot: Former Governor, Businessman Named as Financiers

​Security agencies investigating a brazen conspiracy to topple President Bola Tinubu’s administration have identified two primary financiers alleged to have funneled N835 million toward the failed putsch.

​At the center of the investigation is the former Minister of State for Petroleum Resources and ex-Governor of Bayelsa State, Timipre Sylva, who is accused of providing the lion’s share of the funding—N785 million. Investigators claim the funds were moved through Purple Waves Limited, an Abuja-based construction firm. While Mr. Sylva is not listed as a director in the company’s 2009 registration filings, the firm’s secretary, John Ebokpo, is currently in custody.

​The second alleged sponsor, Moses Zakwa, is accused of contributing N50 million through Clay Ring Services Limited. Unlike the high-profile Sylva, Zakwa remains a man of mystery with a sparse digital footprint, though investigators are probing potential links to civil society activism in years past.

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​A Plot Reactivated

​The conspiracy, reportedly masterminded by Colonel Alhassan Maaji, was not a spontaneous event. Intelligence reports suggest the group originally intended to disrupt the May 29, 2023, inauguration but stalled due to “insufficient funds.”

​The plot was allegedly reactivated in 2025 following the massive cash injection attributed to Mr. Sylva. The transition from a logistical dream to a tactical threat included:

• ​Targeted Assassinations: High-ranking officials, including President Tinubu, Vice President Kashim Shettima, and the leadership of the National Assembly, were reportedly marked for elimination.
• ​Strategic Seizures: Plans were in place to take control of the Presidential Villa, Nnamdi Azikiwe International Airport, and key military barracks.

​Weapons and Logistics Recovered

​The scale of the planned violence was laid bare by the recovery of a significant arsenal from Lieutenant Colonel AA Hayatu. Seized items include:

• ​Gun trucks and anti-aircraft guns.
• ​RPG bombs and AK-47 rifles.
• ​A fleet of 32 Volkswagen Golf vehicles and several SUVs intended for covert operations.

​The recovered funds have been lodged with the Central Bank of Nigeria under the Nigerian Army Corps of Military Police account.

​Current Status of Suspects

​The military has concluded its internal investigation, identifying several officers whose conduct “violated professional standards.” Currently, 40 suspects—including senior military officers and civilians—are in detention.

​While many remain behind bars, the two alleged “kingpins” of the financial network, Timipre Sylva and retired Major General Adamu, remain at large. One suspect has reportedly been tracked to South America as Nigerian authorities await presidential approval to begin formal court-martial proceedings.