The development was revealed by the President in a statement through his spokesperson, Femi Adesina, on Thursday.
President further stated that the interim management of the organization will be in place till the audit is completed.
The President added that the supervision of NDCC will remain under the Ministry of Niger Delta Affairs.
Recall that President Buhari a few weeks ago ordered a forensic audit of the operations of the NDDC from 2001 to 2019.
The President made the decree while receiving governors of the states that make up the Commission, led by Governor Seriake Dickson of Bayelsa State on Thursday in Abuja.
Buhari said what is presently on the ground in the South-south region does not justify the huge resources that have been made available to the organization.
“I try to follow the Act setting up these institutions especially the NDDC. with the amount of money that the Federal Government has religiously allocated to the NDDC, we will like to see the results on the ground; those that are responsible for that have to explain certain issues.”
“The projects said to have been done must be verifiable. You just cannot say you spent so much billions and when the place is visited, one cannot see the structures that have been done. The consultants must also prove that they are competent”.
President Buhari added that developing the Niger Delta area required enormous resources compared to other parts of the country with firmer lands.
“I am acutely aware, with my experience, that projects in your area are very expensive; that is why if any job is given, we must make sure that the company is competent and has the capacity to do it well with experienced consultants,” the President added.