Fresh revelations have emerged in the ongoing investigation into Nigeria’s alleged failed coup plot, with former Bayelsa State Governor and ex-Minister of State for Petroleum Resources, Timipre Sylva, accused by investigators of playing a central financial role in the alleged conspiracy.
According to confidential investigation records reviewed by Premium Times, Sylva was identified as a high net worth financier who allegedly worked with key associates to mobilise more than ₦5.8 billion for the execution of the failed coup plot. Investigators claimed the funds were channelled through Purple Waves Limited, an Abuja based company reportedly linked to the former governor and his associates.
The report alleged that Sylva initially distanced himself from the planned operation but later agreed to provide financial backing. Investigators further claimed that he instructed trusted associates to open a dedicated bank account in the name of Purple Waves Limited in July 2025 to facilitate the movement of funds intended for the operation. The account allegedly received billions of naira through transactions described as loans and contract proceeds before the money was reportedly moved through a bureau de change operator...READ THE FULL ARTICLE HERE .
Security documents also alleged that Sylva approved the transfer of about ₦785 million toward the execution of the plot before it eventually collapsed. Corporate records reportedly showed that the directors of Purple Waves Limited were individuals believed to be close associates of the former minister, while some of the properties used as collateral for the company’s bank facilities were allegedly linked to him or one of his associates.
The latest revelations add another layer to the high profile investigation into the alleged attempt to overthrow President Bola Tinubu’s administration. Although Sylva’s name has repeatedly appeared in investigation documents and court filings, he has not been formally arraigned in connection with the allegations. Authorities have, however, continued their investigations while several suspects, including military officers and civilians, remain on trial over their alleged involvement in the failed plot.
The allegations remain claims by investigators and are yet to be proven in court. Sylva has previously denied any involvement in the alleged coup plot, insisting he has committed no offence. As investigations continue, Nigerians are expected to closely monitor the legal process to determine the full extent of the allegations and whether sufficient evidence exists to support prosecution.
