By Premium Times Investigations Desk
A sweeping counterintelligence operation by the Defence Intelligence Agency (DIA) has unearthed a trail of more than ₦11 billion linked to a detained Nigerian Army colonel accused of involvement in an alleged coup plot, Premium Times can authoritatively report.
According to multiple security sources familiar with the probe, the funds—spread across several bank accounts—were uncovered during months of financial and communication tracking that led to the arrest of several senior military officers suspected of plotting to overthrow the government of President Bola Ahmed Tinubu.
The detained colonel, who once served under a brigadier general now also in custody, reportedly told interrogators that the funds belonged to a former state governor, whom he described as his business partner. He insisted that the money was meant for legitimate business transactions and not linked to any political or subversive activity.
> “He was evasive at first, but the financial intelligence linked the deposits directly to offshore accounts and proxies associated with the alleged network,” one top security source disclosed. “The sums were too significant to ignore.”
Inside the DIA’s Year-Long Surveillance Operation
The investigation is part of a broader probe launched after intelligence gathered in August 2024 indicated that a group of serving and retired officers were plotting to stage a coup.
DIA operatives began monitoring the suspects’ movements, communications, and financial flows across multiple countries. By June 2025, the agency had mapped out what it described as “three distinct windows of attempted action”—June 12 (Democracy Day), October 1 (Independence Day), and a yet-undisclosed date later in the year.
> “The suspects met in the UK and Turkey this year,” another source revealed. “DIA operatives were tracking their calls, encrypted messages, and meetings. They were patient, building evidence before making arrests.”
The surveillance reportedly forced major security adjustments around the Presidency. Insiders said Tinubu’s frequent stay in Lagos and limited public activities in Abuja earlier this year were directly linked to ongoing threat assessments.
> “Intelligence indicated October 1 was their final strike date,” one source said. “That’s why Independence Day celebrations were quietly cancelled. The plot was real, but the counterintelligence team stayed ahead.”
In what many analysts now see as a direct fallout from the crisis, President Tinubu dismissed all service chiefs last Friday, including General Christopher Musa, the Chief of Defence Staff.
Although the Presidency did not link the shake-up to the coup probe, multiple officials told Premium Times the decision was partly influenced by what was described as a “serious communication error” from Defence Headquarters.
> “The Defence Headquarters’ public admission that 16 officers were arrested was seen as reckless,” a senior official said. “It exposed a sensitive operation and risked both domestic instability and foreign misinterpretation. The CDS took responsibility for that blunder.”
The mass dismissal of service chiefs, sources added, was deliberately broad to avoid the impression that Musa alone was being punished, while quietly signaling a complete security reset at the top.
Ethnic Sensitivity and Silent Tension
Documents reviewed by Premium Times show that 15 of the detained officers hail from northern states, including Nasarawa, Niger, Bauchi, Kaduna, Plateau, Gombe, Katsina, Jigawa, and the FCT.
Officials are said to be walking a tightrope, mindful of the delicate regional balance within the armed forces.
> “This is not an ethnic matter,” one intelligence officer clarified. “But if the regional dynamics are not handled carefully, it could trigger suspicion and division in the ranks.”
Security experts say this explains the government’s cautious messaging and the Defence Headquarters’ repeated denials of any coup attempt, even as deeper investigations continue behind the scenes.
Broader Fallout: Sylva’s Home Searched, NAF Reshuffles Command
The ongoing probe has widened dramatically. Premium Times confirmed that the Abuja residence of former Governor and ex-Minister of State for Petroleum, Timipre Sylva, was searched by operatives last Tuesday as part of the financial investigation connected to the detained officers.
Meanwhile, the Nigerian Air Force (NAF) has approved a major redeployment of senior officers in what insiders describe as a “strategic realignment” following the reshuffling of the security hierarchy.
A statement by Air Commodore Ehimen Ejodame, NAF spokesperson, said the move was aimed at “enhancing operational efficiency and aligning with the leadership vision” of the new Chief of Air Staff, Air Marshal Sunday Aneke.
Nineteen officers were given new appointments, while six others were moved to inter-service and defence institutions — a development seen as part of broader efforts to tighten internal control and restore confidence across the military.
Behind the Silence
While the official narrative maintains that no coup attempt occurred, Premium Times understands that the ₦11 billion discovery, combined with intercepted communications and foreign links, has unsettled the upper echelons of the defence establishment.
Analysts say the muted tone from the government reflects both the sensitivity of the matter and a desire to avoid public panic.
Still, insiders warn that the incident has exposed deep fractures within Nigeria’s military and raised urgent questions about loyalty, oversight, and the influence of political money in the armed forces.
As the investigation widens, one question dominates Abuja’s corridors of power:
Was this a rogue network of greedy officers—or the shadow of something much larger?
PIONEER NEWS 