The Abuja Division of the Federal High Court has remanded the embattled National Publicity Secretary of the Peoples Democratic Party, PDP, Mr. Olisa Metuh in prison custody.
Metuh was remanded in Kuje Prison, Abuja, after he pleaded not guilty to the seven-count criminal charge that was preferred against him by the Economic and Financial Crimes Commission, EFCC.
Justice Okon Abang ordered that he should remain in prison custody till Tuesday when his formal bail application will be heard.
Meantime, the court has fixed January 25 to commence full-blown hearing on the charge against Metuh.
Metuh is facing trial alongside his firm,
Destra Investment Limited, over alleged N400m fraud.
The charge marked FHC/ABJ/CR/05/2016, was signed by the Assistant Director, Legal & Prosecution Department of the EFCC, Mr. Sylvanus Tahir.
The charge against Metuh borders on alleged money laundering, breach of trust and criminal diversion of public funds.
Specifically, EFCC, alleged that Metuh had in November, 2014, collected the sum of N400m from the erstwhile National Security Adviser, NSA, Col. Sambo Dasuki, rtd.
The fund which was withdrawn from an account the Office of the NSA operated with the Central Bank of Nigeria, CBN, was allegedly transferred to Metuh through account no. 0040437573, which Destra Investments Limited operated with Diamond Bank Plc.
EFCC insisted that whereas the fund was earmarked for campaign activities of the PDP, it said that Metuh diverted most of it to his personal use.
It alleged that Metuh converted part of the money to one Million US Dollars which he used for his personal business.
Besides, Metuh was alleged to have transferred the sum of N21.7m to another chieftain of the PDP, Chief Tony Anenih.