The ongoing military investigation into the alleged coup plot against President Bola Tinubu’s administration has reportedly uncovered a suspicious trail of ₦45 billion allegedly disbursed from the bank accounts of the Niger Delta Development Commission (NDDC) to certain politically exposed persons and some detained soldiers linked to the alleged conspiracy.
The revelation has intensified concerns within the NDDC and the political establishment, even as the Defence Headquarters continues to deny claims of any attempted coup, describing such reports as “false, misleading, and malicious.”
Alleged Coup Plot and Denial
Initial reports had linked the supposed coup attempt to the Federal Government’s cancellation of Nigeria’s 65th Independence Day celebration, sparking widespread speculation. Multiple sources also alleged that personnel from the Nigerian Army recently raided the Abuja residence of former Bayelsa State governor and ex-Minister of State for Petroleum, Timipre Sylva, as part of the Defence Intelligence Agency’s (DIA) ongoing investigation.
In a statement, Brigadier General Tukur Gusau, Director of Defence Information, clarified that the 16 military officers currently detained were being investigated for professional misconduct, not for participation in a coup attempt.
NDDC Officials Interrogated Over ₦45bn Transfer
Following the discovery of the financial trail, investigators reportedly summoned top NDDC officials to explain the source and utilisation of the funds. Among the suspicious transactions under scrutiny is a ₦45 billion shoreline project awarded to a former South-South governor, part of which allegedly found its way into accounts associated with the detained officers.
Security sources familiar with the investigation confirmed that the probe forms “part of a broader intelligence-based inquiry into the movement of public funds.” The development has since triggered panic and unease within the NDDC headquarters, with senior officials said to be taking extra precautions in their communications and movements.
An insider told The PUNCH:
Since the news broke about the interrogation of the top shots, the atmosphere here has been uneasy. Many directors are being cautious about their movements and communications.
Reports indicate that some executive directors closely linked to the embattled officials are increasingly worried that the probe could widen and implicate other senior figures within the commission.
When contacted, NDDC spokesperson Seledi Thompson-Wakama declined to comment on the ongoing investigation.
The Federal Government has maintained that there is no coup plot against the Tinubu administration, but the emerging details of the ₦45bn NDDC fund trail have added a new dimension to the unfolding saga, raising serious questions about the intersection of public funds, political interests, and national security.