ISLAMABAD - The NAB Executive Board in its meeting Wednesday approved holding of inquiry against former Inspector General Malik Naveed Khan and former DIG KPK Khursheed Alam for accumulation of assets beyond known sources of income.

The board authorised the inquiry against Saeedur Rehman, Chief Financial Officer of NLC, for misuse of authority wherein huge losses were incurred by placement of public funds in stock exchanges for investment. The board decided to form a joint inquiry team with PGA and JAG branch of GHQ to form a joint strategy in the same case pertaining to army officials as well dealt by the GHQ. The PGA will be the focal point for the purpose of finalization of inquiry against Saeedur Rehman and others.

The board decided to refer back all the cases of willful default sent by Bank of Punjab to NAB directly without adopting the proper channel of State Bank of Pakistan.

The board approved the request for voluntary return of Abdur Rauf, former District Nazim, DI Khan, amounting to Rs25.78 million for the loss caused to the public exchequer by him through corrupt practices.