The Nigerian military’s ongoing investigation into the alleged coup plot has reportedly uncovered a financial trail of ₦45 billion traced to the Niger Delta Development Commission (NDDC). The funds were allegedly transferred to politically exposed persons and some of the sixteen army officers detained in connection with the suspected conspiracy to topple President Bola Tinubu’s administration.

Earlier this month, Sahara Reporters claimed that sixteen military officers were being held for planning a coup d’etat. The report linked the alleged plot to the Federal Government’s cancellation of Nigeria’s sixty-fifth Independence Day celebration. However, the Defence Headquarters, through its spokesperson Brigadier General Tukur Gusau, swiftly denied the report, describing it as false and misleading. The DHQ maintained that the detained officers were being questioned for professional misconduct, not treason.

Recent developments have added a new dimension to the controversy. Multiple reports indicate that military operatives from the Defence Intelligence Agency (DIA) raided the Abuja residence of former Bayelsa governor and former Minister of State for Petroleum, Chief Timipre Sylva, as part of the ongoing investigation. Following this, DIA investigators reportedly questioned top NDDC officials regarding the source, disbursement, and use of the ₦45 billion linked to the detained officers.

Security sources disclosed that a significant portion of the funds came from a shoreline protection project valued at ₦45 billion, allegedly awarded to a former South-South governor. Some of the money was said to have ended up in accounts associated with the detained soldiers. The development has caused palpable tension at the NDDC headquarters, with senior officials expressing fear that the probe could uncover wider financial irregularities. One insider, speaking anonymously, revealed that the atmosphere within the commission has been uneasy since news of the investigation broke. The source added that many directors are being cautious about their movements and communications. The NDDC’s Director of Corporate Affairs, Seledi Thompson Wakama, declined to comment when contacted on the matter.

Meanwhile, Chief Timipre Sylva has denied any link to the alleged coup or financial transactions under investigation. His media aide, Chief Julius Bokoru, dismissed the allegations as the handiwork of desperate politicians pursuing selfish ambitions ahead of the 2027 elections. He confirmed that operatives of the DIA raided Sylva’s Abuja home last Saturday, arresting his younger brother, Paga Sylva, and his driver. The former minister was abroad at the time. Bokoru explained that nothing was removed from the residence during the operation, but parts of the property were damaged. He stated that Sylva’s Yenagoa home was not affected and that the two men arrested have not yet been released.

According to Bokoru, Sylva was in the United Kingdom for routine medical checks and was expected to travel to Malaysia for a professional conference. He described the reports linking Sylva to the alleged coup as false and politically motivated, stressing that some politicians were bent on tarnishing Sylva’s image because of his influence in Bayelsa politics.

The Defence Headquarters has reiterated that there was no coup plot against President Tinubu’s government, describing reports suggesting otherwise as malicious attempts to incite public fear. However, intelligence sources confirmed that the ongoing interrogation of NDDC executives forms part of a broader investigation into the movement of public funds. While no arrests of NDDC management have been confirmed, the development has reportedly triggered anxiety and internal suspicion among senior staff members.

In a follow-up statement titled “Setting the Record Straight on Recent False Reports About Sylva,” Bokoru reaffirmed Sylva’s loyalty to President Tinubu and Nigeria’s democratic institutions. He stated that Chief Sylva has no involvement whatsoever, either in planning or logistics, with any coup plot and remains a democrat who has always pursued his ambitions through due political processes. He further accused certain political figures of engaging in toxic local politics and smear campaigns aimed at undermining Sylva’s political influence in Bayelsa State.

As investigations continue, both the NDDC and Defence Intelligence Agency remain under intense scrutiny. The probe’s outcome is expected to shape future discussions on financial accountability, military discipline, and political stability within Nigeria’s democratic framework.