While he denied his involvement in the coup at the time, he conceded in Enigma, authored by Nigerian Babafemi Badejo in 2006, that he played a central role in it.
Economic and Financial Crimes Commission (EFCC) spokesman Femi Babafemi told the BBC that the four - Mr Lulu, Bolaji Ojo-Oba, Taiwo Ogunjobi and Amanze Uchegbulam - would face a number of charges.