Justice Mojisola Dada of an Ikeja Special Offences Court has remanded an oil marketer, Adeleke Fayose, for alleged N66.5 million oil fraud on Thursday.
The defendant, was dragged before the court by the Economic and Financial Crimes Commission, EFCC, alongside his company, Brooks and Knight International Limited.
They are standing trial on a three-count charge bordering on obtaining money under false pretences and stealing.
Fayose, however, denied the charges.
Following his arraignment, the judge ordered that he be kept at Ikoyi Correctional Centre pending hearing and determination of his bail application.
She adjourned the case until December 19 for hearing of the bail application.
Meanwhile, the defence counsel, Mrs Chineye Udeh, had informed the court of an application for bail of the defendant, while the EFCC counsel, Mr. Samuel Daji, requested for a trial date.
The commission alleges that the defendant obtained the sum of N66.5 million, property of GOSL Nigeria Limited under false pretences.
According to EFCC, the defendant committed the offences on August 9, 2018 and August 10, 2018 in Lagos.
EFCC also claims that the defendant stole the money from GOSL Nigeria Limited.
The commission also said the alleged offences contravene 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.