In a major development in the ongoing coup investigation, military intelligence has traced approximately N11 billion to the bank accounts of a colonel currently detained for alleged involvement in a plot to overthrow the government.
The arrested officer served directly under a brigadier general who is also under scrutiny and was previously deployed to the Niger Delta region. When questioned, the colonel claimed the funds belonged to a former governor and described the money as part of a legitimate business transaction between them.
The probe forms part of a broader investigation launched after intelligence reports in August 2024 indicated that some serving military officers were allegedly planning a coup. The Defence Intelligence Agency (DIA) reportedly monitored financial movements, communications and foreign contacts linked to the suspects for months before any arrests were made.
According to sources, there were plans to strike on key national milestones such as Democracy Day (June 12) and Independence Day (October 1) of this year. Meetings in the UK and Turkey were cited as part of the plotting, though the DIA’s sustained surveillance allowed authorities to stay ahead.
In another turn of events, the sudden dismissal of all service chiefs by Bola Tinubu has been linked to this affair. The removal of Gen. Christopher Musa as Chief of Defence Staff came after a public announcement of arrests — described as a breach of operational management by insiders.
While the official stance from the Defence Headquarters denies any coup attempt — insisting the detained officers are undergoing internal scrutiny — the evidence gathered by the DIA suggests otherwise.
The investigation remains ongoing, as the government works to manage the complex security, political and ethnic implications of the case.
