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    Home - ‘Coup Rumours Scaring Investors, Damaging Nigeria’s Economy’, Presidency Warns

    ‘Coup Rumours Scaring Investors, Damaging Nigeria’s Economy’, Presidency Warns

    By Abdullahi Maitama SaniOctober 31, 2025
    Tinubu Begs

    THE Presidency has cautioned that widespread circulation of unverified reports about alleged coup plots is damaging Nigeria’s economy and putting off foreign investors at a critical time.

    BORNO PATRIOTS

    Speaking during an interview on Arise News Prime Time on Thursday monitored by News Point Nigeria, the Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, said irresponsible reporting on national security matters was undermining investor confidence and international perception of the country.

    “When a country is looking for investment and the media are shouting ‘coup attempt,’ it scares investors away,” Onanuga warned. “Stories like that can destroy the country’s reputation and economy. We need to wait for facts, evidence, not rumours.”

    Silk

    He urged the press and the public to exercise caution and ensure due diligence before amplifying allegations capable of creating panic and tension.

    Onanuga acknowledged that the military is currently investigating some arrests involving military personnel, but stressed that authorities have not linked them to any effort to overthrow the government.

    “No credible evidence exists at this point,” the presidential aide stated. “Jumping to conclusions has grave national consequences.”

    He also criticised what he called a rising culture of media sensationalism driven by social media impressions rather than national interest.

    His remarks follow an October 19 report by an online newspaper claiming that some military officers were plotting to topple the civilian government, a publication that has since generated public anxiety.

    Reacting earlier, the Director of Defence Information, Brig.-Gen. Tukur Gusau, dismissed the report as “intended to cause unnecessary tension and distrust,” insisting that ongoing arrests relate to disciplinary issues, not an anti-democratic conspiracy.

    Nigerian TAX Reform - Federal Goverment

    Gusau reaffirmed that the Armed Forces remain fully committed to defending the Nigerian Constitution and democracy.

    The renewed sensitivity toward sabotage and power grabs comes against the backdrop of recent coups in neighbouring West African nations, including Mali, Burkina Faso and Niger, where military juntas have unseated elected governments.

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