Ayo Oke, suspended director-general of the National Intelligence Agency (NIA), on Monday appeared before the panel set up by President Muhmmadu Buhari to investigate the monies recovered by the Economic and Financial Crimes Commission (EFCC) in Ikoyi, Lagos.
On April 12, the anti-graft agency discovered $43.4m, N23.2m and £27,800 at an apartment in Ikoyi.
Oke had said the monies belong to his agency.
Subsequently, Buhari suspended the intelligence chief and set up a three-man panel to probe him.
Vice-President Yemi Osinbajo was named head of the committee, which has Abubakar Malami, attorney-general of the federation and Babagana Munguno, national security adviser, as members.
On Monday, the panel commenced its meeting around 1pm.
Lawal Daura, director-general of the Department of State Services (DSS) and Ibrahim Magu, acting chairman of the EFCC, had appeared before the panel on Friday.
Over the weekend, Laolu Akande, senior special assistant on media and publicity to the vice-president, said proceedings of the panel would not be open to the public.
Critics of this government have said nothing good will come out of the investigation.
The Ahmed Makarfi faction of the Peoples Democratic Party (PDP) had called on Buhari to set up a fresh committee, passing a vote of no confidence on the committee headed by Osinbajo.
Babachir Lawal, secretary to the government of the federation, was also suspended along with Oke. The panel is expected to grill him too.
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