₦45 Billion Coup Cash Trail: EFCC, NFIU Join Military In Explosive Financial Probe

Investigators probing the alleged attempted coup against President Bola Tinubu’s administration have enlisted the Economic and Financial Crimes Commission (EFCC) and the Nigeria Financial Intelligence Unit (NFIU) to trace financial transactions allegedly linked to individuals suspected of funding the plot, The Punch has learnt.....KINDLY READ THE FULL STORY HERE▶

According to reliable sources, several bank accounts belonging to both military officers and civilians under investigation may have been frozen as part of the sweeping probe.

Although independent confirmation remains limited, a senior security official described the move as “standard procedure in cases involving national security threats.”

Multiple security insiders disclosed that both the EFCC and NFIU have begun forensic financial investigations into the suspects’ accounts — scrutinizing deposits, withdrawals, and fund transfers to uncover suspicious money trails.

“The EFCC and NFIU are conducting a detailed analysis of the financial records of the soldiers and civilians linked to the plot to overthrow the government,” one top intelligence source told The Punch.

The investigation has reportedly widened to include the associates and business partners of the key suspects, as authorities intensify efforts to expose the financial web behind the alleged conspiracy.

The latest move follows earlier reports alleging that ₦45 billion was transferred from the Niger Delta Development Commission (NDDC) to individuals suspected of financing the coup plot.

According to Sahara Reporters, 16 Nigerian Army officers were initially detained over the alleged plot, which was said to have influenced the cancellation of Nigeria’s 65th Independence Day parade.

However, the Director of Defence Information, Brigadier-General Tukur Gusau, dismissed the coup allegations, clarifying that the detained officers were being investigated for disciplinary infractions, not for plotting to overthrow the government.

Sylva Denies Involvement After Home Raid

As part of the broader investigation, security operatives reportedly raided the Abuja residence of former Bayelsa State governor and ex-Minister of State for Petroleum, Timipre Sylva, arresting his younger brother, Paga, and his driver.

Sylva, who was said to be abroad during the operation, denied any involvement in the alleged coup through his media aide, Chief Julius Bokoru, who described the allegations as “baseless and politically motivated.”

Security sources confirmed that the military is now relying heavily on the EFCC and NFIU to uncover the financial networks behind the alleged plot.

“This is a sensitive intelligence operation,” a top source said. “Until the investigation is complete, we cannot disclose the identities of all those involved, the amounts deployed, or what has been recovered. But the EFCC and NFIU are central to the process.”