The panel is said to be sitting at the Banquet Hall wing of the Presidential Villa.
Magu was stopped in traffic while moving out of the Wuse II Annex of the EFCC in Abuja and the invitation was extended to him.
Although Magu was on his way to the Force Headquarters, he pleaded with an officer from FCID who met with him to honour the scheduled appointment.
But he was told the invitation by the panel was more important.
At about 1.35pm, Magu arrived at the Villa where he was ushered into the wing.
As at Press time, Magu has been joined at the Villa by his lawyer, Mr. Rotimi Oyedepo.
A source said: “Both Magu and Jacobs are now in an office in the Banquet Wing of the Vila.
“He has not been arrested by any of the security agencies. We are awaiting further development. ”