By Sandra Ugwu 

October 30, 2025 | Abuja

A sweeping military investigation into the alleged coup plot against President Bola Tinubu’s administration has reportedly uncovered a suspicious trail of ₦45 billion traced to the accounts of the Niger Delta Development Commission (NDDC). The funds were allegedly disbursed to some politically exposed persons and soldiers currently in custody over the controversial plot.

Sources confirmed that the Defence Intelligence Agency (DIA) is probing a series of high-value transactions involving NDDC top officials, following reports that part of the funds might have been used to finance subversive activities. Some of the money was allegedly linked to a shoreline protection project awarded to a former South-South governor.

The development has triggered panic within the NDDC, with several directors and senior executives reportedly under interrogation. Insiders told AnchorNews that the commission’s headquarters has been thrown into anxiety since the questioning of its top officers began.

“Since the news broke about the interrogation, everyone has become extremely cautious. Many directors are avoiding unnecessary movement and communication,” a senior staff member disclosed under condition of anonymity.

The Defence Headquarters had earlier denied reports of a coup attempt, describing them as “false, misleading, and malicious.” It clarified that the 16 military officers in detention were being investigated for professional misconduct rather than for plotting to overthrow the government.

Meanwhile, former Bayelsa State Governor and ex-Minister of State for Petroleum, Chief Timipre Sylva, has denied any involvement in the alleged coup or its financing. His Abuja residence was raided last weekend by DIA operatives, who reportedly arrested his younger brother, Paga Sylva, and his driver.

Sylva’s media aide, Chief Julius Bokoru, dismissed the allegations as the handiwork of “desperate politicians eyeing the 2027 elections,” insisting that Sylva is a loyal democrat and longtime supporter of President Tinubu.

“Chief Sylva has no connection whatsoever with any coup plot. He is currently abroad for medical checks and a professional conference,” Bokoru stated.

The NDDC Managing Director, Dr. Samuel Ogbuku, also denied reports of his arrest, saying he only became aware of the allegations through social media.

Security analysts say the ongoing investigation may evolve into a broader financial probe of the NDDC, a commission long dogged by allegations of corruption and mismanagement.

As the Defence Intelligence Agency continues its investigation, observers are watching closely to see how far the probe reaches within Nigeria’s political and military circles.

- AnchorNews