Explosive Details Surface As Full List Of Alleged Sylva Coup Fund Beneficiaries Emerges

Military investigators have alleged that more than ₦700 million was distributed to soldiers, civilians, companies and Islamic clerics as part of the financing of an alleged failed 2025 coup plot against the administration of President Bola Tinubu.

According to investigation records, former Bayelsa State Governor Timipre Sylva allegedly provided ₦785 million through Purple Waves Limited, an Abuja-based construction and real estate company that investigators claim served as a financial channel for the purported operation.

The records indicate that the funds were transferred to accounts controlled by Kano-based Bureau de Change operator Abdullahi Sani Mohammed, who allegedly disbursed the money on the instructions of the suspected coup leader, Col. Mohammed Ma’aji.

The allegations remain before the courts and have not been proven. Several suspects are currently standing trial before a General Court Martial and the Federal High Court in Abuja. Sylva, who is reportedly outside Nigeria, has denied any involvement in the alleged plot.

Documents reviewed by investigators show that Mohammed allegedly made 47 separate payments between September 20 and September 30, 2025, as preparations for the alleged coup intensified. The planned operation was reportedly scheduled for dates including September 27, October 1 and October 4 before it collapsed following Ma’aji’s arrest on September 29.

Investigators believe some members of the alleged network were unaware of the arrest, allowing payments to continue until September 30. Mohammed also reportedly continued receiving funds from Purple Waves until October 2.

In an extra-judicial statement, Mohammed told investigators that he had maintained a long-standing foreign exchange business relationship with Ma’aji before the transactions linked to Purple Waves.

He said Ma’aji frequently contacted him to purchase foreign currency in varying amounts before their dealings later expanded into larger transactions involving accounts operated by A&A Express Link, ASA Multipurpose Concept and Luji Trade and Investment Limited.

Mohammed claimed he received the first two transfers of ₦150 million each around September 18, 2025, before receiving additional transfers of ₦100 million, ₦50 million, another ₦100 million and ₦50 million. According to his statement, Purple Waves transferred a total of ₦785 million to him between September 20 and October 2.

Investigators alleged that several serving and retired military officers received payments for roles assigned in the purported operation.

Among those named were Lt. Col. Shamsudeen Bappah, who allegedly received ₦5 million for an assignment involving the 102 Battalion in Zuma, Niger State, and Lt. Felix Sunday Stephen, who reportedly received ₦17 million in two instalments for an alleged intelligence mission targeting airport operations in Lagos.

Lt. Aminu John was also alleged to have received ₦10 million, while Maj. Mundi Usman reportedly received three separate transfers amounting to ₦25 million for an alleged operation involving the Presidential Villa.

The investigation further alleged that Nigerian Air Force officers Squadron Leader Zuzu Noel Goddy and Squadron Leader Sani Bubara Adamu received ₦1 million each for separate assignments connected to airport and Air House operations.

Other alleged recipients include former Capt. Abubakar Mohammed, Corporal Aliyu Ibrahim and Warrant Officer Nasiru Ibrahim, each of whom investigators claimed received ₦5 million.

An Islamic cleric, Goni Bukar, was identified in the records as one of the largest individual beneficiaries. Investigators alleged that he received a total of ₦50 million to provide spiritual support for the planned operation.

However, Bukar has maintained that the money was intended for prayers, charitable activities and mosque-related projects, denying any involvement in an attempt to overthrow the government.

The investigation also traced funds to several corporate accounts. Cutzbytz Cakes allegedly received multiple transfers totalling ₦31.5 million, while Co-fran Spinfluence was linked to ₦32 million. Other companies named in the records include Aduko Engineering Services, Schutmann Nigeria Limited, Overere Services Limited and Auto Revive.

Investigators also alleged that auto dealer Ahmed Abdulganiyu received ₦46.5 million, Alhaji Abubakar Maliki received ₦55 million in two payments, while Christopher Elube allegedly received ₦36 million.

According to the records, the use of corporate accounts was intended to facilitate the movement of funds through business entities rather than personal bank accounts.

Mohammed reportedly admitted transferring more than ₦700 million based on payment instructions and account details allegedly supplied by Ma’aji. He also claimed the colonel later invited him to reconcile the payments before requesting that he purchase foreign currency.

Investigators said security operatives recovered funds that had not yet been disbursed following Mohammed’s arrest.

The investigation further alleged that members of the network used coded language to conceal their communications. Terms such as “farming,” “fertilisers,” “harvest,” “digital farming” and “technical partners” were reportedly used to describe various aspects of the alleged operation.

The records also claimed that Sylva initially declined to support the alleged plot before later becoming one of its principal financiers through Purple Waves Limited, whose account reportedly held more than ₦5 billion before the alleged disbursements began.

More than 40 suspects—including serving and retired military personnel, a police officer, clerics and civilians—were arrested between September and October 2025.

Thirty-six military personnel are currently facing trial before a General Court Martial in Abuja, while six other defendants are being prosecuted before the Federal High Court on a 13-count charge.

The defendants before the Federal High Court have challenged the admissibility of their statements and video evidence, arguing that investigators violated provisions of the Administration of Criminal Justice Act during the investigation. The prosecution has asked the court to dismiss those objections and admit the evidence.

Investigators also disclosed that five associates of Sylva are facing separate charges for allegedly failing to disclose information about the former governor’s whereabouts.