The federal government’s $5 billion Northern Australia Infrastructure Facility is parting ways with chief executive Laurie Walker, just months after an Auditor-General’s report criticised its operations and with question marks hanging over its effectiveness.

The leadership shake-up comes with 29 projects in the due diligence stage of assessment for NAIF loans and about $1.26 billion earmarked for projects that have gained full or conditional approval since it was set up by the Coalition in mid-2016.