Military Uncovers N45bn from NDDC

By Christy Emeka

Fresh details have emerged in the ongoing military probe into the alleged coup plot against President Bola Tinubu, with investigators reportedly tracing a trail of ₦45 billion from the accounts of the Niger Delta Development Commission (NDDC) to some politically exposed persons and soldiers detained in connection with the rumoured plot.

Earlier this month, Sahara Reporters claimed that 16 Nigerian Army officers had been arrested over an alleged plan to overthrow President Tinubu’s administration

However, the military, in a statement by the Director of Defence Information, Brig. Gen. Tukur Gusau, denied the report linking the detention of  the16 military officers to a failed coup.

Multiple reports on Tuesday stated that some Nigerian Army personnel raided the Abuja residence of ex-governor Timipre Sylva, also a former Minister of State for Petroleum, in connection with the alleged coup plot currently under investigation by the Defence Intelligence Agency.

Following the discovery of the suspicious transactions, investigators from the Defence Intelligence Agency (DIA) reportedly interrogated several top NDDC officials to determine the source, beneficiaries, and purpose of the ₦45 billion disbursement.

Sources disclosed that part of the funds originated from a shoreline protection project in the South-South region awarded to a former governor — with portions allegedly finding their way into accounts linked to some of the detained officers.

The development has sparked anxiety at the NDDC headquarters in Port Harcourt, as officials fear the probe could expand into a full-scale audit of the commission’s financial activities.

An insider told The PUNCH under anonymity, “Since the news broke about the interrogation, the atmosphere here has been uneasy. Many directors are cautious about their movements and communications.”

The NDDC spokesperson, Seledi Thompson-Wakama, declined to comment when contacted.

Meanwhile, Timipre Sylva has denied any link to the alleged coup or the financial transactions under investigation. His media aide, Chief Julius Bokoru, dismissed the reports as “a desperate ploy by self-seeking politicians nursing 2027 ambitions.”

National Beam learnt that DIA operatives raided Sylva’s Abuja residence last Saturday, arresting his younger brother, Paga Sylva, who serves as his Special Assistant on Domestic Affairs, and his driver. The two men remain in custody.

Bokoru confirmed that Sylva and his wife, Alanyingi, were outside the country during the raid, attending medical appointments in the United Kingdom before heading to Malaysia for a professional conference.

He said no items were taken from the house, though a close associate disclosed that several doors and household items were damaged during the operation.

In a statement titled “Setting the Record Straight on Recent False Reports about Sylva,” Bokoru reaffirmed that Sylva was not involved in any coup plot or subversive activity.

He stated, “Chief Timipre Sylva is a thoroughbred democrat whose political career has always been guided by faith in due process. His unwavering support for President Bola Ahmed Tinubu is well known. These rumours are the handiwork of desperate politicians within the Bayelsa APC who are fixated on 2027.”

The statement emphasized that Sylva’s loyalty to President Tinubu and the All Progressives Congress (APC) remains “unquestionable,” describing the allegations as “malicious fabrications driven by envy and fear.”

Meanwhile, NDDC Managing Director Dr. Samuel Ogbuku, who once served as Sylva’s Chief of Staff, also denied reports of his arrest. In a brief message, he said, “I’m not aware of such. I’m seeing it on social media just like everyone else.”

As investigations deepen, security sources say the probe into the NDDC’s financial transactions is “part of a broader intelligence-based inquiry into the movement of public funds.”