Sylva, Zakwa Fingered In ₦835m Funding Of Alleged Coup Plot Against Tinubu

Security agencies investigating the alleged plot to overthrow President Bola Tinubu have reportedly identified two individuals accused of bankrolling the failed coup attempt with a combined sum of ₦835 million.

According to a report by online newspaper, Premium Times, multiple security sources familiar with the ongoing probe mentioned that former Bayelsa State governor, Timipre Sylva, was alleged to have contributed ₦785 million, the bulk of the funds through Purple Waves Limited, a private construction firm based in Abuja.

The firm’s secretary, John Ebokpo, has been arrested and is currently being detained by security operatives. Sylva, who also served as Minister of State for Petroleum Resources under former President Muhammadu Buhari, was accused of being the principal financier of the conspiracy and has reportedly gone into hiding.

Although there have been earlier reports of his alleged involvement, the precise amount he was accused of donating was emerging for the first time. Sylva has publicly denied any role in the alleged plot.

However, company records from the Corporate Affairs Commission (CAC) showed that Sylva was not listed as a director or shareholder of Purple Waves Limited, which was registered in March 2009 for construction and maintenance activities.

According to the online newspaper, when their correspondent visited the company’s Abuja office on Monday, a security guard said the premises had been shut for “about four to five months,” a period that coincides with a series of arrests made by security agencies in connection with the alleged coup.

Efforts to reach Sylva, his spokesperson Julius Bokoru, and other directors of Purple Waves Limited, were unsuccessful, as calls to their known telephone numbers failed to connect.

Investigators have also linked Moses Zakwa to the alleged plot. He was accused of contributing ₦50 million through Clay Ring Services Limited, a Lagos-based property development firm where he was listed as a director.

Little is publicly known about Zakwa. In 2014, a man bearing the same name led a peaceful protest by the Kibaku Youth Association at the Alausa Secretariat in Ikeja, demanding the release of abducted schoolgirls in Borno State, though it remained unclear whether it was the same individual now under investigation.

Attempts to contact other directors of Clay Ring Services proved abortive. One listed director, Benjamin Okwumabua, said he has “no connection whatsoever” with the company.

Recall that in January, the Defence Headquarters (DHQ) announced that its investigation into the coup allegations had been completed and submitted to the “appropriate superior authority in line with extant regulations.”

“The findings identified several officers with allegations of plotting to overthrow the government,” a military statement said, describing such conduct as “inconsistent with the ethics, values, and professional standards required of members of the Armed Forces of Nigeria.”

More than 40 suspects, including senior officers across the Armed Forces, a police officer, and several civilians were reported to be in detention. They were alleged to have played roles in reconnaissance, funding, and propaganda activities tied to the plot.

The covert operation that led to the arrests was jointly coordinated by the Nigerian Army Headquarters and the State Security Service (SSS), with the Economic and Financial Crimes Commission (EFCC) handling financial-crime aspects of the probe.

The investigation reportedly identified a retired senior officer, Major General Adamu (rtd.), as a key link in the network. Both he and Sylva were said to be at large. Intelligence sources disclosed that one of the fleeing suspects had been traced to a country in South America, though his exact location has not been officially confirmed for security reasons.

According to sources, the alleged plotters had originally planned to disrupt the May 29, 2023 presidential inauguration of President Tinubu but postponed their operation due to insufficient funding and logistics. The conspiracy was allegedly reactivated in 2025 following Sylva’s reported financial contributions.

Authorities are now said to be awaiting presidential approval to constitute a court-martial panel to try the implicated soldiers.

Security operatives recovered a large cache of weapons, including gun trucks, anti-aircraft guns, PKT machine guns, RPG bombs, AK-47 rifles, ammunition, and tactical gear from Lieutenant Colonel AA Hayatu of the 130 Battalion Main.

Also seized were four Toyota Hilux trucks, one Toyota Prado SUV, two Toyota saloon cars, and 32 Volkswagen Golf vehicles allegedly procured for covert operations.

“All recovered exhibits are in the custody of the Defence Intelligence Agency (DIA),” a security source confirmed. “Recovered funds have been lodged into the Nigerian Army Corps of Military Police account domiciled at the Central Bank of Nigeria,” the only newspaper reported.