Nigeria’s Defence Intelligence Agency (DIA) has reportedly uncovered a financial trail linking ₦45 billion in Niger Delta Development Commission (NDDC) transactions to politically exposed persons and 16 army officers currently detained over an alleged plot to overthrow President Bola Tinubu.

Sources familiar with the investigation said the probe, which intensified following nationwide arrests in early October, has prompted scrutiny of NDDC executives over the origin of funds, including a controversial shoreline contract awarded to a former South-South governor. Among those facing questions is ex-Bayelsa State governor and former petroleum minister Timipre Sylva, who denies any involvement.

The funds, disbursed through recent high-value transactions, are believed to have been channeled to military officers reportedly frustrated by stalled promotions and career stagnation. SaharaReporters first linked the detentions to a foiled October 1 parade disruption, though Defence Information Director Brigadier-General Tukur Gusau dismissed the report as “false and malicious,” framing the arrests as part of internal misconduct investigations.

At the NDDC headquarters, anxiety is mounting. “Directors are cautious; it could widen to other dealings,” a source said. The commission’s spokesperson, Seledi Thompson-Wakama, declined to comment.

Sylva’s residence in Abuja was raided on Saturday while he was abroad for medical treatment ahead of a Malaysia conference. His brother Paga, a domestic aide, and his driver were arrested and remain in custody. Sylva’s aide, Julius Bokoru, said no items were seized and described the raid as politically motivated, blaming rivals within the Bayelsa APC ahead of the 2027 elections. A Sylva associate, however, reported damaged doors and ransacked rooms.

NDDC Managing Director Samuel Ogbuku, formerly Sylva’s chief of staff, denied reports of his own arrest, saying, “I’m seeing it on social media too.” Bokoru reiterated Sylva’s support for President Tinubu and dismissed the allegations as “toxic politics.”

While the military has remained tight-lipped on the specifics, sources suggest the funds may have supported subversive logistics. The revelations have triggered fears of broader financial audits within the NDDC and renewed scrutiny of its procurement practices.