FRESH revelations have emerged in the ongoing military investigation into an alleged plot to remove President Bola Tinubu from office, as intelligence operatives reportedly uncovered suspicious cash flows amounting to N45 billion traced to accounts linked to the Niger Delta Development Commission (NDDC).
The funds were allegedly disbursed to politically exposed persons and some of the military officers currently detained over the purported conspiracy, multiple security sources confirmed on Wednesday.
This development comes weeks after an online platform reported that 16 military officers; spanning the ranks of Captain to Brigadier General were arrested for planning a coup.
The online platform had linked the alleged plot to the federal government’s cancellation of Nigeria’s 65th Independence Day celebrations.
But the Defence Headquarters swiftly denied the claim, insisting that the officers were detained for breaches of military discipline, not a coup attempt.
Security sources told this newspaper that the Defence Intelligence Agency (DIA) widened its investigation after discovering high-value transactions leaving NDDC accounts and allegedly linked to detained soldiers.
The findings triggered intense scrutiny of senior NDDC management staff, who have since been invited for interrogation.
“This is part of a broader intelligence-based inquiry into the movement of public funds,” a senior security official confirmed.
A shoreline protection project reportedly awarded to former Bayelsa Governor and ex-Minister of State for Petroleum, Chief Timipre Sylva, and worth N45bn is among transactions being reviewed. Part of the funds, investigators claim, allegedly made its way to suspects arrested over the purported coup plot.
The situation has caused palpable panic within the NDDC, with officials anxious that the probe could widen into a full-scale financial audit.
“Many directors are now treading carefully… The atmosphere here has been uneasy,” a senior commission official said anonymously.
Attempts to obtain comments from the Commission’s spokesperson, were unsuccessful.
For Chief Sylva, has also been named in the ongoing probe.
News Point Nigeria reported that his Abuja residence was raided over the weekend by DIA operatives, who arrested his younger brother, Paga, his Special Assistant on Domestic Affairs and his driver.
Both remain in custody.
Sylva, however, strongly denied any involvement in the alleged plot, insisting through his media aide, Julius Bokoru, that the coup theory is a fabricated political attack driven by 2027 ambitions.
“Chief Sylva has no involvement whatsoever either in planning or logistics,” Bokoru declared.
He confirmed the former minister was abroad for medical checks and scheduled for a conference in Malaysia.
Associates claimed parts of Sylva’s home, including expensive doors, were damaged during the operation.