Romania's finance minister has resigned amid an investigation into suspicions that he took 2 million euros ($2.1 million) in bribes when he was a mayor.

Darius Valcov handed in his resignation Sunday evening, hours after President Klaus Iohannis urged the prime minister to fire him as criticism of the government grew.

Prosecutors charged Valcov on Friday with influence peddling, saying he was suspected of favoring a local businessman when he was mayor of Slatina in exchange for a 20-percent cut. Prosecutors say he received the bribes between 2010 and 2013. He denies wrongdoing.

Prime Minister Victor Ponta initially supported Valcov, but accepted his resignation. Ponta has asked Valcov to present the new fiscal code next week and will then name a successor, Mediafax news agency reported.