EFCC, NFIU investigate suspects’ financial links in alleged coup plot –Sources

*The Nigerian Military investigators probing the alleged coup plot work with Economic and Financial Crimes Commission and the Nigeria Financial Intelligence Unit to unravel purported financial flows linked to certain individuals, institution(s) accused of bankrolling the plot

Isola Moses | ConsumerConnect

The Nigerian Military investigators probing the alleged attempted coup in the country are working with the Economic and Financial Crimes Commission (EFCC) and the Nigeria Financial Intelligence Unit (NFIU) to uncover purported financial flows linked to certain individuals and institutions accused of bankrolling the plot.

Subsequently, the bank accounts of some of the alleged putsch suspects might have been frozen by the authorities, as part of the probe procedures, according to report.

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ConsumerConnect gathered that the development was sequel to the latest discovery of the alleged transfer of N45 billion from the Niger Delta Development Commission (NDDC) to those involved in the alleged overthrow of the Nigerian Government.

Described as a standard procedure in such cases, multiple security sources familiar with the probe confirmed that the EFCC and NFIU are performing a forensic investigation on the bank accounts of the arrested soldiers and the civilians involved in the plot to overthrow President Bola Ahmed Tinubu-led Federal Government of Nigeria.

It was learnt the ongoing forensic investigation would cover transaction analysis, including reviewing deposits, withdrawals, and transfers to identify suspicious patterns; tracking of account activity over time; identifying the origin(s) of funds, and determining the true owners of the accounts under probe in the process.

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Besides the forensic probe into suspects’ bank accounts, the investigation is reportedly being extended to cover the associates and business partners of the key suspects.

It is recalled that Sahara Reporters news platform, few weeks back, had reported that 16 Nigerian Army (NA) Officers were arrested for allegedly planning a coup to overthrow President Tinubu.

The news publication also linked the purported coup plot to the Federal Government’s last-minute cancellation of the “parade” section of Nigeria’s 65th Independence Day celebrations.

Brig. Gen. Tukur Gusau, Director of Defence Information, equally denied that the detention of the affected Military Officers was tied to any coup attempt.

Still, security operatives raided the Abuja home of Chief Timipre Sylva, ex-Governor of Bayelsa State, and whisked away his younger brother, Paga and driver, as the investigation gained momentum in the West African country.

Sylva, who is also a former Minister, and chieftain of the ruling All Progressives Congress, was outside the country at the time, report stated.

In his defence, however, Chief Julius Bokoru, Sylva’s spokesman, Wednesday, October 29, 2025, confirmed that his principal’s residence in Abuja, FCT, was raided.

Bokoru denied Sylva’s involvement in the alleged coup plot, as he accused his political adversaries of trying to frame him in the purported treasonable act.

The spokesman also noted that the former Governor of Bayelsa State and his wife were overseas at the time the security operatives raided his home in the FCT.

Meanwhile, Military insiders explained, providing an update on the burning yet mitigated national issue Thursday, October 30, affirmed that the investigators are relying on the EFCC and NFIU to uncover the money trail and flow of funds deployed for the execution of the alleged coup in Nigeria, according to reports.

Sources in the anti-graft agencies confirmed their involvement in the probe.

A security source privy to the ongoing investigation told The Punch: “This is discreet intelligence work. Until the entire exercise is concluded, we cannot provide a list of all those involved, how much was deployed for the plot or the amount recovered.

“The investigators are relying on the EFCC and NFIU for this.”

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