A part of the statement also has it that Abubakar Malami, who is the attorney-general of the federation, has been directed to immediately take over all outstanding investigations and other activities of the SPIP.

The statement reads "President Muhammadu Buhari has dissolved the Special Presidential Investigation Panel for the Recovery of Public Property (SPIP) as currently constituted with Mr. Okoi Obono-Obla as Chairman.

The Attorney-General of the Federation and Minister of Justice has been directed to immediately take over all outstanding investigations and other activities of the SPIP.

The panel was established in August 2017 by the then Acting President, Prof. Yemi Osinbajo, SAN to investigate specifically mandated cases of corruption, abuse of office and similar offences by public officers.

President Buhari thanks all members of the dissolved panel for their services.

The President looks forward to receiving the final Independent Corrupt Practices and other related offences Commission (ICPC) report on the ongoing investigations of the dissolved panel’s Chairman."

ALSO READ: Read the full story of why Buhari suspended presidential aide Obono-Obla

It would be recalled that barely 24hrs ago, President Buhari has constituted an Economic Advisory Council, which will replace the current economic management team headed by the Vice President, Prof Yemi Osinbajo.

The Economic Advisory Council will report directly to the President himself.