A currency exchange store that converted P6.9 million in police intelligence funds into euros has closed up shop after local officials revealed that the money changer does not have the proper business permits.

Manila City Hall officials said the F&S money changer shop in Ermita, Manila closed shop ahead of a closure order issued by the permits bureau. Authorities said the owner of the business establishment should apply for a permit before reopening the shop.

An ABS-CBN report earlier revealed that F&S money changer changed its name to FH money changer several weeks after being implicated in the "euro generals" controversy.

Sen. Miriam Defensor Santiago has ordered the Senate Sergeant-at-Arms to arrest Felisa Sakaluran of Felisa Sakaluran Enterprises for failing to show up at the Senate inquiry.

Sakaluran was identified as the owner of the moneychanger shop in Manila that converted P6.9 million to 105,000 euros caught in the possession of former police comptroller Eliseo dela Paz in October at the Moscow international airport.

According to Bangko Sentral ng Pilipinas (BSP) deputy governor Diwa Gunigundo, amounts exceeding $10,000 or its equivalent in foreign exchange should be reported by the covered institution to BSP within 10 working days.

Gunigundo was also referring to the issue involving Tyrone Ng Arejola, the businessman who reportedly entrusted dela Paz with 45,000 euros for the purchase of two designer time pieces on his behalf in Europe.