Rumoured coup plot: N11bn found in detained colonel’s bank accounts

Military intelligence traced about N11bn to the bank accounts of a colonel detained over the alleged coup plot involving some senior military officers, Sunday SOCIETYWATCH has learnt.

Top-level security sources told our correspondents that the discovery connected the detained officer to the alleged coup.

According to an officer familiar with the investigation, the colonel, who served directly under a brigadier general now also under probe, had previously been deployed in the Niger Delta region.

“When interrogated, the colonel claimed that the funds belonged to a former governor, whom he described as his business partner. He insisted that the money was meant for a legitimate business transaction,” the source said.

Sunday SOCIETYWATCH learnt that the ongoing probe is part of a wider investigation that began after intelligence reports in August 2024 suggested that some serving military officers were allegedly plotting to overthrow the government.

Security sources disclosed that the Defence Intelligence Agency began tracking communications, financial movements, and foreign contacts linked to the suspects months before any arrests were made.

The coup plotters have been under the radar since August 2024, when the service got wind of the plot. They mapped out three different times to strike, two of which were the June 12 Democracy Day and the October 1 Independence Day this year,” a source said.

“They met in the UK and Turkey this year. But the DIA was patiently gathering facts and evidence before swooping on them.”

DIA’s intervention

Intelligence gathered during surveillance reportedly led to a review of presidential movements.

Security sources said President Bola Tinubu’s frequent stays in Lagos and his reduced presence in Abuja were partly influenced by ongoing security assessments at the time.

“The first countermeasure taken was to divert the President’s movement in recent times,” one source noted.