EFCC is alleging that the transactions, at least N117 billion in value, are suspicious in nature but that Zenith failed to report them as demanded by law.
According to reports, Amangbo was held to explain why his bank failed to document the withdrawals, allegedly done over a three-year period, as suspicious.
Amangbo was first invited for questioning on August 23, but he was freed on administrative bail and asked to return on August 24 for further interrogation.
He honoured the arrangement, turning himself in again at the EFCC headquarters in Abuja, he was however not allowed to return home on Friday.
Governor Nyesom Wike of Rivers slammed the investigation as “political witch-hunt” saying he would continue to prevent state officials from appearing before the EFCC for questioning.
“No government official will appear before the EFCC,” Mr Wike was quoted as saying in a statement his spokesperson Simeon Nwakaudu sent to PREMIUM TIMES Sunday night.
The Governor said an Appeal Court judgement in 2007 prohibited the EFCC from prying into Rivers State coffers, a ruling he claimed had not been appealed.
They filed for leave to appeal the judgment at the Court of Appeal.
Until they set aside the judgment, we will not come” Wike said, adding that a fresh lawsuit would be filed to stop the EFCC investigation of Rivers accounts.