Security agencies investigating an alleged plot to overthrow President Bola Tinubu have identified two individuals suspected of funneling N835 million through private companies to bankroll the Coup.
Former Bayelsa State Governor Timipre Sylva is alleged to have contributed the largest share — N785 million — reportedly transferred through Purple Waves Limited, an Abuja-based construction firm.
John Ebokpo, the company’s secretary, has been arrested and remains in detention as authorities continue their investigation.
Join our WhatsApp ChannelWhen reporters visited the firm’s Abuja office, a security guard said the premises had been shut for four to five months, a period coinciding with a wave of arrests linked to the alleged plot.
The second alleged sponsor, Moses Zakwa, is accused of contributing N50 million through Clay Ring Services Limited, a Lagos-based property renovation and development firm where he is listed as a director.
Little is known about Zakwa, and searches of his digital footprint have yielded no recent information. In 2014, a man with the same name led a peaceful protest demanding the release of abducted schoolgirls in Borno State, though it is unclear if this is the same individual now in custody. Efforts to reach other company directors were unsuccessful.
Last month, the Defence Headquarters said its investigation had been completed and forwarded to the “appropriate superior authority” in line with regulations. Officials said the probe had identified “several officers with allegations of plotting to overthrow the government,” describing the conduct as “inconsistent with the ethics, values, and professional standards required of members of the Armed Forces of Nigeria.”
Authorities say the discovery of these transactions is part of a broader effort to trace the financial networks allegedly underpinning the coup plot. No formal charges have been confirmed against the individuals named.
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The case has already drawn national attention because of the high-profile figures involved and the potential implications for Nigeria’s national security.
Prosper Okoye is a Correspondent and Research Writer at Prime Business Africa, a Nigerian journalist with experience in development reporting, public affairs, and policy-focused storytelling across Africa
