Military investigators probing the alleged coup plot against President Bola Tinubu’s administration have reportedly uncovered a trail of ₦45 billion disbursed from the accounts of the Niger Delta Development Commission (NDDC) to politically exposed persons and some of the detained soldiers.
According to security sources who spoke with Punch, the Defence Intelligence Agency (DIA) is grilling top NDDC executives over the sources, beneficiaries, and utilisation of the funds, sparking tension within the interventionist agency.
Earlier this month, Sahara Reporters alleged that 16 Nigerian Army officers were being held for allegedly plotting to topple the government, linking the purported plot to the cancellation of Nigeria’s 65th Independence Day parade.
But the Defence Headquarters swiftly dismissed the report, insisting that the officers were detained over professional misconduct and not for any coup-related activity.
Despite this, multiple reports on Tuesday indicated that Army operatives raided the Abuja residence of former Bayelsa State governor and ex-Minister of State for Petroleum, Timipre Sylva, as part of the ongoing probe.
Investigators are said to be scrutinising a series of high-value transactions linked to politically connected individuals, including a shoreline project awarded in the South-South valued at ₦45bn. Part of the funds allegedly found their way into the accounts of some of the detained officers.
A senior security source confirmed to Punch that the interrogation of NDDC officials formed “part of a broader intelligence-based inquiry into the movement of public funds.”
Panic At NDDC Headquarters
The revelations have triggered unease at the commission’s headquarters. Insiders disclosed that senior executives are anxious about the potential widening of the probe.
“Since the news broke about the interrogation of the top shots, the atmosphere here has been uneasy. Many directors are being cautious about their movements and communications,” one insider said.
Executive directors with close administrative ties to the interrogated officials are said to be particularly worried. Staff members have also expressed concern that the investigation could expand to implicate more top figures.
The NDDC spokesperson, Seledi Thompson-Wakama, when contacted by Punch declined to comment on the interrogation of the commission’s officials.
