'Coup Reports Are Scaring Investors Away'

Presidency warns media that coup reports harm Nigeria’s economy and investors.
Onanuga urges journalists to verify information before publication.
Military denies coup allegations, calls reports misleading and harmful.

The Presidency has warned that recent media reports alleging coup plots could damage Nigeria’s economy and discourage foreign investors from engaging with the country.

Speaking during an interview on Arise News Prime Time on Thursday, Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, cautioned that sensational stories about national security issues have far-reaching consequences.

“When a country is seeking investment and the media are shouting ‘coup attempt,’ it scares investors away. Stories like that can destroy the country’s reputation and economy. We need to wait for facts and evidence, not rumours,” Onanuga said.

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EKO HOT BLOG reports that he urged journalists and citizens to remain calm and allow official investigations to conclude before drawing conclusions, adding that the military’s confirmation of some arrests did not automatically mean a coup was being planned.

According to him, “no credible evidence has been established linking any of the detained officers to a coup attempt,” stressing that unverified reports could trigger grave national consequences.

Onanuga also criticised what he described as an increasing hunger for sensationalism and online traffic at the expense of responsible reporting.

“Some media platforms ran with the story for clicks and attention. But as patriotic Nigerians, we must understand that what we report affects our nation’s stability and economic image,” he said.

He acknowledged the public’s skepticism toward official statements but maintained that such distrust should not justify spreading unverified claims.

“It’s true that people don’t always trust government statements, but responsible journalism means waiting for facts before publishing,” he added.

His comments follow a recent report by Sahara Reporters alleging that some senior military officers were plotting to overthrow President Bola Tinubu’s administration.

The Defence Headquarters has since dismissed the allegations. Its spokesperson, Brigadier-General Tukur Gusau, clarified that the detained officers were being investigated for “issues of indiscipline,” not a coup attempt.