Justice Nnamdi Dimgba of the Federal High Court, Abuja has ordered an associate of Governor Ayo Fayose of Ekiti State, Abiodun Agbele to be remanded in Kuje Prisons.
He is to remain in custody till Thursday, August 4 when he will rule on his bail application.
Agbele was arraigned alongside three others before Justice Dimgba by the Economic and Financial Crimes Commission (EFCC), on an 11-count charge bordering on money laundering to the tune of N4.6 billion allegedly transferred from the office of the National Security Adviser.
He however pleaded not guilty to all charges when it was read to him.
Arguing on his bail application, counsel to Agbele, Mr Mike Ozekhome (SAN) prayed the court to grant his client bail on self-recognition because the offences for which he is standing trial for are bailable.
He told the court that the applicant was arrested by the EFCC in his house and his international passport has been with them and was used as a condition for his administrative bail.
He added that the onus is on the EFCC, to show that if granted bail, the applicant will jump and urged the court to grant the applicant bail on grounds that he will be available for trial.
Opposing the bail application, the prosecution counsel, Mr Johnson Ojogbane urged the court to refuse the application on ground, insisting that the applicant will jump bail if granted.
He told the court that the applicant is a flight risk and had perfected plans to flee the country before he was arrested by the operatives of the anti-graft agency.
He, therefore, urged the court to refuse the application and instead commence accelerated hearing in the case.