President Buhari reviews a document containing the 2016 Federal Budget. 10th April 2016. Photo: Bayo Omoboriowo

In a tweet posted on the @ngrpresident timeline, the presidency announced the suspension of Babachir Lawal, Secretary to the Government of the Federation (SGF) and Ambassador Ago Oke Director General of the National Intelligence Agency (NIA)

While the SGF has been suspended to carry out investigations into alleged abuse of due process in the award of contracts by the Presidential Initiative on the North East (PINE), the NIA DG is being investigated with respect to large amounts of foreign currency totalling $50 million found in a flat at Osborne towers, Ikoyi by the EFCC. The NIA has claimed ownership of the money.

Both investigations will be conducted by a three-man committee headed by the vice president Prof. Yemi Osinbanjo.The committee is to submit its report to the President within 14 days.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy.

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