Finance Minister Tonio Fenech yesterday urged the Labour leader to explain the close relationship he shared with his “handpicked” financial administrator Joe Cordina.

This week I was given a scapular and a cross. Should I have turned them down?

However, when questioned, Mr Fenech stopped short of saying where he believed Joseph Muscat erred when he selected Mr Cordina, who stepped down after the company he was involved in with two other directors – Intershore Fiduciary Services – was connected with the oil procurement scandal.

In a press conference dominated by the release of more invoices in the growing oil scandal and questions about clock gifts, Mr Fenech said Dr Muscat had to answer a number of questions.

“Did Dr Muscat know Mr Cordina before [being handpicked]? Where and how did he get to know him? Did he ever carry out any business with Mr Cordina? Did they ever share an office? Had he, together with Mr Cordina, given advice to those wishing to invest abroad?” Mr Fenech asked.

Mr Fenech said Dr Muscat and Mr Cordina had worked together in the financial services and the Labour leader should clarify the nature of their relationship.

Mr Fenech reiterated that the company Mr Cordina was involved in was deemed to be an “accomplice to the fraudulent activity” of Aikon Ltd, the company which received commission for rogue oil trader George Farrugia.

Mr Fenech was also repeatedly questioned about the clock which he received as a gift from Mr Farrugia’s sister-in-law, but which was delivered to his home by her husband and his brother George Farrugia.

Mr Fenech reiterated the gift was not from Mr Farrugia and denied breaching the ministers’ code of ethics because he did not believe the clock was of significant value.

The Labour Party has alleged that the clock is worth some €5,000, a claim vehemently denied by the finance minister.

“This week I was given a scapular and a cross. Should I have turned them down? I never accepted any gifts valued between €500 and €5,000,” he said, adding he had no doubt about the Prime Minister’s faith in him.

However, Mr Fenech turned down a request for an interview from The Sunday Times on the issues related to the clock gift raised in the past week.

His spokesman said: “The minister has already given all the information about the case you have referred to, and there is nothing further to add on the issue.”