According to the report by the Senate ad-hoc committee, the suspended SGF converted PINE into a money making enterprise, using the agency to award contracts to cronies whose firms did not pass the requirements set by law.
The President has been out of sight for some time now, heightening speculations about the state of his health.
The funds were reportedly disbursed in two cash withdrawals between November 2014 and February, 2015 and were ferried in bullion vans to unknown destinations.
A total of N18 million, $19,000 and 4,000 Saudi riyals was recovered from the Abuja residence of former Governor of Gombe State and current member of the Senate, Danjuma Goje.
The funds were approved for NIA’s ‘covert operations’ by President Goodluck Jonathan and subsequently withdrawn in cash from NAPIMS account with the Central Bank of Nigeria, CBN.
The organization noted that there was no doubt that the aim of the policy was steadily being achieved with the involvement of Nigerians.
Buhari directed that the “most senior Permanent Secretary in the SGF’s office, and the most senior officer in the NIA, are to act, respectively, during the period of investigation.”