The Economic and Financial Crimes Commission (EFCC) Wednesday arraigned Abdullahi Babalele, a son-in-law of the former vice president Atiku Abubakar at a Federal High Court in Lagos.
Babalele was arraigned on a two-count charge of money laundering. He pleaded not guilty to the charges.
His lawyer Mike Ozekhome (SAN) pleaded the court to grant him bail.
But the judge Justice Nicholas Oweibo ordered Babalele to remain in police custody pending the hearing of his bail application on Thursday.
The prosecutor, Rotimi Oyedepo, said Babalele committed the offence early this year.
Oyedepo said about $140,000 was paid into Abdullahi Babalele’s account without going through a financial institution.
The sum exceeds the amount authorized by Law and is thereby an offence under Section 18(c) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under Section 16(2)(b) of the act.
