Reports said that Giwa-Osagie, was implicated by a bureau de change operator who identified him as the owner of the money.
The commission was said to have suspected that the $2 million could either have been budgeted for vote-buying or to compromise electoral officials.
This was even as the PDP described the arrest as a witch-hunt by the APC, saying that the EFCC had made it obvious that it is working for the party and President Muhammadu Buhari.
One of the spokesmen of the PDP, Timi Frank, who reacted to the arrest, called on the international community to sanction the acting Chairman of EFCC, Ibrahim Magu, for allegedly detaining members of the opposition illegally in order to whittle their chances in the forthcoming elections.
In a statement, Frank said that the arrest of Giwa-Osagie a few weeks after Tunde Ayeni, a former chairman of Skye Bank Plc (now Polaris Bank), was picked up and detained, was clear indication that the APC was desperate to “starve the opposition of critical funding for its campaign.
“Magu cannot claim to be fighting corruption when the only people he finds to be allegedly engaged in fraudulent activities are key members of the opposition. This is a witch-hunt and highly selective.
“Today, the EFCC is clearly an arm of the APC; no thanks to Magu who has officially pledged his support to Buhari by wearing his re-election campaign brooch on his suit lapel.”
