Ayodele Fayose, immediate past governor of Ekiti state, has lost out in his bid to be granted bail by the federal high court in Lagos.
On Monday, the Economic and Financial Crimes Commission (EFCC) arraigned Fayose on an 11-count charge of conspiracy and money laundering against him accusing him of benefitting from N4.65billion slush funds allocated by the Office of National Security Adviser(ONSA) during the Goodluck Jonathan Administration.
The agency said that Fayose was allegedly allocated ₦6.5 billion from the funds, illegal acquisition of property in Abuja and Lagos and illegally acquiring property in the name of his sister in Abuja, among others.
Fayose pleaded not guilty when the charges were read to him.
Subsequently, Kanu Agabi, his counsel, filed a bail application on behalf of his client but Mojisola Olatoregun, the presiding judge, said the application would be considered later since he is entitled to bail.
She ordered that Fayose should remain in EFCC custody till Wednesday.
The former governor, less than 24 hours after he left office on October 16, submitted himself to the anti-corruption agency in the company of Nyesom Wike, the Rivers State Governor, and Femi Fani-Kayode, a former aviation minister, and has been in their custody since then.
He was flown to Lagos on Sunday evening and brought to the court Monday morning amid heavy security presence.