The military intelligence operatives in Nigeria have traced approximately N11 billion to the bank accounts of a colonel detained over an alleged coup plot involving senior military officers. The discovery links the detained colonel directly to the plot. According to sources, the colonel claimed the funds belonged to a former governor described as his business partner and that the money was intended for legitimate business transactions.
The investigation stems from intelligence reports received in August 2024, which suggested serving military officers were planning to overthrow the government. The Defence Intelligence Agency (DIA) tracked communication, financial activities, and foreign contacts linked to the suspects for over a year before making arrests. The suspected coup plotters reportedly planned three attacks, including on the national Democracy Day and Independence Day, both of which were closely monitored and ultimately foiled.
The intelligence gathered also influenced the movement of President Bola Tinubu, with his reduced Abuja presence and frequent stays in Lagos attributed to increased security measures. The government canceled the 2025 Independence Day celebrations based on credible intelligence about the planned coup operation.
Following the arrests of 16 officers—including a brigadier general, colonels, and other ranks across the Army, Navy, and Air Force—the presidency removed all service chiefs, partly due to a disclosure error about the arrests. Investigations are ongoing in collaboration with the Economic and Financial Crimes Commission (EFCC) and the Nigeria Financial Intelligence Unit (NFIU), focusing on tracing the money trail linked to the alleged coup. The probe also involved raids at the Abuja residence of a former Bayelsa State governor, highlighting the broad scope of the investigation.
