Military intelligence has uncovered a trail of over ₦45 billion in suspicious funds from the Niger Delta Development Commission (NDDC) linked to suspects in a foiled coup plot against President Bola Tinubu, according to sources briefed on the investigation.
The Defence Intelligence Agency (DIA), working with the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC), is examining high-value transactions from NDDC accounts, including a ₦45 billion shoreline protection contract awarded under a prior administration to a former South-South governor.
Portions of these funds allegedly reached detained military officers and politically exposed persons.
The probe has triggered alarm at NDDC headquarters, where executives face intense questioning on the funds' origins and alleged role in financing subversive activities.
A key focus is a ₦20 billion transfer from a ₦54 billion coastal defense contract, suspected of being diverted to support the plot.In a dramatic turn, NDDC Managing Director Dr. Samuel Ogbuku was reportedly arrested by DIA operatives on Wednesday for allegedly co-sponsoring the coup via illicit transfers.
Ogbuku is under debriefing, with NDDC spokeswoman Seledi Thompson-Wakama declining comment amid directives to stay silent.
The financial connections also implicate former Bayelsa Governor Timipre Sylva, whose accounts are flagged for receiving sums tied to illegal oil bunkering and regional grievances that reportedly led to his sidelining in Tinubu's circle.
The EFCC has frozen assets and seized accounts, with a full report due to the president soon.
Military leaders promise to name implicated officers before a General Court Martial for full transparency.
This scandal erupts as new service chiefs, recently Senate-confirmed, vow to crush nationwide insecurity, a commitment now tested by these revelations.
