Something like this should work
Note: I used the Form in this example but will be the same for a Panel just make sure the AllowDrop property of you Panel is set to true.
Private Sub Form1_DragEnter(sender As Object, e As DragEventArgs) Handles MyBase.DragEnter
If e.Data.GetDataPresent(DataFormats.FileDrop) Then
e.Effect = DragDropEffects.Move
End If
End Sub
Private Sub Form1_DragDrop(sender As Object, e As DragEventArgs) Handles MyBase.DragDrop
Dim fileList As String() = DirectCast(e.Data.GetData(DataFormats.FileDrop, False), String())
For i As Integer = 0 To fileList.Length - 1
Dim destPath As String = "D:/pictures/"
Directory.Move(fileList(i), destPath & Path.GetFileName(fileList(i)))
Next
End Sub