In a startling development amid Nigeria’s ongoing military investigation into an alleged coup plot against President Bola Ahmed Tinubu, security operatives have traced a staggering ₦45 billion disbursed from the Niger Delta Development Commission (NDDC) accounts to politically exposed persons (PEPs) and detained soldiers. The funds, linked to high-value contracts including a shoreline protection project, have intensified scrutiny on the interventionist agency’s financial dealings, sparking panic at its headquarters and raids on key figures’ residences.
The probe, led by the Defence Intelligence Agency (DIA) in collaboration with the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC), centers on suspicious transactions from recent months. Sources reveal that portions of the ₦45 billion—part of a larger shoreline defense contract awarded under a previous administration—allegedly flowed to accounts tied to detained military officers and influential South-South politicians. A senior security source described the interrogations of top NDDC executives as “part of a broader intelligence-based inquiry into the movement of public funds,” with no official charges yet filed.
Key Figures and Raids
- Timipre Sylva’s Involvement: The former Bayelsa Governor and ex-Minister of State for Petroleum Resources emerged as a focal point after Nigerian Army personnel raided his Abuja residence on Tuesday. Sylva, abroad at the time for medical and professional engagements, confirmed the raid through aide Julius Bokoru, who stated: “For the avoidance of doubt, it is true that the residence… was recently subjected to a raid by individuals believed to be operatives of the Defence Headquarters.” Bokoru vehemently denied Sylva’s role in any coup, calling allegations “entirely false and malicious” and affirming his loyalty to President Tinubu. Reports suggest Sylva’s accounts received funds tied to illegal oil bunkering and regional grievances, with one source claiming a detained officer named him as the plot’s “arrowhead and financier.”
- NDDC Leadership Under Scrutiny: Managing Director Dr. Samuel Ogbuku faced grilling over the transactions, including a reported ₦20 billion transfer from a ₦54 billion contract. Rumors of Ogbuku’s arrest swirled on social media and Arise TV, but he debunked them by addressing a stakeholders’ forum in Port Harcourt on Thursday, focusing on agricultural diversification. Associates like Yekini Nabena and Comrade Prince Kpokpogri labeled the claims “fabricated fake news” from “political enemies,” while NDDC’s legal counsel demanded retractions from Punch and others. Spokesperson Seledi Thompson-Wakama declined comment, citing directives.
Broader Context of the Alleged Plot
The investigation stems from the detention of at least 16-42 Army officers earlier this month for “professional misconduct,” initially linked to the cancellation of the 65th Independence Day parade. The Defence Headquarters (DHQ) has repeatedly denied a coup threat, insisting the arrests are disciplinary. However, the NDDC funds trail has escalated tensions, with insiders fearing a wider audit of the commission’s books amid ongoing challenges like oil theft and underdevelopment.
| Aspect | Details | Implications for Niger Delta |
|---|---|---|
| Funds Origin | ₦45bn from shoreline protection and coastal contracts awarded to South-South PEPs. | Diverts resources meant for regional infrastructure, exacerbating environmental degradation and militancy risks. |
| Beneficiaries | Detained officers; Sylva-linked accounts (alleged ₦20bn-₦46bn transfers). | Raises accountability questions on NDDC contracts, potentially tied to oil bunkering grievances. |
| Probe Agencies | DIA, NFIU, EFCC tracking via bank records. | Could lead to recoveries but risks politicizing development funds in the oil-rich region. |
| Denials | DHQ: No coup; Sylva/Ogbuku: Baseless rumors. | Fuels misinformation on X, with viral posts demanding transparency (#NDDCScandal trending). |
Regional Ripple Effects
For the Niger Delta, this scandal underscores systemic issues: funds intended for flood shelters, agriculture, and infrastructure allegedly siphoned amid security probes. Stakeholders fear delayed projects, like the ongoing agricultural summit, could erode trust in the NDDC’s Renewed Hope Agenda push. On X, discussions rage with 1K+ engagements on posts linking the probe to “Delta marginalization,” while calls for forensic audits grow.
The DHQ maintains stability, with no confirmed coup threat. Investigations continue; full details await official release. Sylva plans a return, vowing cooperation.
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