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Alleged Coup Plot: N11 billion found in detained Colonel’s bank accounts

The FrontierThe FrontierNovember 2, 2025 4114 Minutes read0

•Soldiers

Military intelligence traced about N11 billion to the bank accounts of a Colonel detained over the alleged coup plot involving some senior military officers.

Top-level security sources told our correspondents that the discovery connected the detained officer to the alleged coup, reports Sunday PUNCH.

According to an officer familiar with the investigation, the Colonel, who served directly under a Brigadier General, now also under probe, had previously been deployed in the Niger Delta region.

“When interrogated, the colonel claimed that the funds belonged to a former governor, whom he described as his business partner. He insisted that the money was meant for a legitimate business transaction,” the source said.

How probe unfolded

It was learnt that the ongoing probe is part of a wider investigation that began after intelligence reports in August 2024 suggested that some serving military officers were allegedly plotting to overthrow the government.

Security sources disclosed that the Defence Intelligence Agency began tracking communications, financial movements, and foreign contacts linked to the suspects months before any arrests were made.

“The coup plotters have been under the radar since August 2024, when the service got wind of the plot. They mapped out three different times to strike, two of which were the June 12 Democracy Day and the October 1 Independence Day this year,” a source said.

“They met in the UK and Turkey this year. But the DIA was patiently gathering facts and evidence before swooping on them.”

DIA’s intervention

Intelligence gathered during surveillance reportedly led to a review of presidential movements.

Security sources said President Bola Tinubu’s frequent stays in Lagos and his reduced presence in Abuja were partly influenced by ongoing security assessments at the time.

“The first countermeasure taken was to divert the president’s movement in recent times,” one source noted.

“There was credible intelligence that they would execute the coup operation on October 1, and that was why the Independence Day celebration was cancelled. It was an operation that lasted for over a year, since August last year. But the service was ahead of them because they had access to their communications.”

Service chiefs’ sacking

Last Friday, President Tinubu dismissed all the service chiefs and replaced them.

It was gathered that the removal of the former Chief of Defence Staff, Gen. Christopher Musa, was partly due to a public statement issued by the Defence Headquarters confirming the arrest of 16 officers.

The disclosure was described as a “management error.”

A credible security source said, “Information about the arrest of the 16 officers shouldn’t have been in the public domain,” a source said.

“The management of the situation was essential because they didn’t want people to have justification for the plot. The international community might begin to misinterpret the situation. The fact that the Chief of Defence Staff was careless by disclosing that they arrested 16 officers was a bad approach to management. That carelessness necessitated the change of the service chiefs.”

The source noted that the move to dismiss all the service chiefs at once was meant to mask the disciplinary intent and prevent speculation that Musa alone was being punished.

Muted public reactions

Although the Defence Headquarters denied any coup attempt, insisting that the arrested officers were only undergoing internal scrutiny, ongoing DIA operations have continued to suggest otherwise.

Two weeks ago, online platform Sahara Reporters reported that 16 military officers were detained in connection with a coup plot.

Since then, further arrests and raids — including the Tuesday search of the Abuja residence of former governor and ex-Minister of State for Petroleum, Timipre Sylva — have been linked to the same investigation.

A report by Premium Times, which revealed the identities of the alleged coup plotters, showed that 15 of the detained military personnel are from the northern parts of the country.

Their states of origin include Nasarawa, Niger, Bauchi, Kaduna, Plateau, Gombe, Katsina, Jigawa, and the Federal Capital Territory.

A security source said the restrained communication from the authorities was to prevent political tension and ethnic suspicion within the military hierarchy.

Officials are said to be cautious about publicising the regional identities of the suspects, which could be misinterpreted as a targeted move against northern officers and could further destabilise the already sensitive power balance in the armed forces.

Meanwhile, the Nigerian Air Force has approved the redeployment of some senior officers to key command and staff positions.

A statement on Friday said it was part of efforts to enhance operational efficiency and align NAF structure with the leadership vision of the new Chief of the Air Staff, Air Marshal Sunday Aneke.

No fewer than 19 officers received new appointments, while six others were posted to various defence and inter-service establishments.

The statement, issued by the Director of Public Relations and Information, Air Commodore Ehimen Ejodame, said the restructuring was aimed at improving decision-making, strengthening coordination across units and commands, and reinforcing readiness in response to current security challenges.

Aneke’s decision to reshuffle senior officers comes just a day after his counterpart in the Nigerian Army also announced a major reorganisation of top commanders.

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