An oil marketer, Adeleke Fayose, was on Thursday remanded on the directive of an Ikeja Special Offences Court over alleged N66.5 million oil fraud.
Fayose appeared in court alongside his company, Brooks and Knight International Ltd.
They are currently getting tried on a three-count charge which border on accumulating money under false pretences and stealing.
When the matter was read to the defendant, he however, pleaded not guilty to the charge.
Justice Mojisola Dada directed that he should be remanded at Ikoyi Correctional facility till the bail application is heard and determined.
She has adjourned the matter until December 19 for the bail application to be heard.
Mrs Chineye Udeh, the defence counsel, had told the court of a bail application for the defendant.
Also, the counsel of the EFCC, Mr Samuel Daji, has demanded for a date of trial.
EFCC has made allegations that the defendant got the sum of N66,5 million, suspected to be property of GOSL Nig. Ltd. under false pretences.
It made allegations that the defendant carried out the offences on August 9, 2018 and August 10, 2018 in Lagos.
EFCC was also of the claims that the defendant illegally took away the money from GOSL Nigeria Ltd.
The commission stated that the alleged offences was in contravention of the Sections 278, 285 (1)(8) of the Criminal Law of Lagos State, 2015, and Section 1(3) of the Advanced Fee Fraud and Other Fraud Related Offences Act of 2006.