Founder of DAAR Communications Plc, Raymond Dokpesi was yesterday denied bail by the Federal High Court, Abuja which ordered him to be remanded in the custody of the Economic and Financial Crimes Commission, EFCC pending the determination of his bail application Friday.

An attempt by the accused person’s counsel, Mike Ozekhome, to secure his bail failed as the prosecuting counsel, Rotimi Jacobs, said that he had just been given the bail application shortly before the sitting. And that he needed time to read it.

Ozekhome had argued that Dokpesi had “not contributed to the insurgency by his act and the only reason he is held in custody is because of mere speculation of future investigation.”

He said that the accused had been scheduled to travel abroad before his arrest and detention by the EFCC.

The defense counsel told the court further that the offense for which his client was charged is bailable and that he would not jump bail as he had families and defendants.

But Jacobs called the attention of the court to the nature of charges against the accused, saying that it is serious corruption.

After listening to the two counsels, Justice Kolawole fixed adjourned till Friday to hear arguments on the bail application.

However, the trial has been fixed for January 17, 18 and February 2 and 3 2016

Dokpesi is facing a criminal charge of illegally receiving and laundering  N2.1 billion which he received from former National Security Adviser, Sambo Dasuki.

The money was allegedly disbursed from about N2.1 received by Dasuki for arms purchase to prosecute the war against insurgents in the North east.

The media mogul denied the 6-count criminal charges which also involved breach of public trust and procurement fraud.

Dokpesi is accused to have between October 2014 and March 2015 fraudulently received the sum of N2.1 billion into the account of DAAR Investment and Holding Company for the media campaign of the People’s Democratic Party, PDP, in the last general election.

This, the prosecutor said, is contrary to section 58 (4) (b) of the Public Procurement Act 2007 and punishable under section 58 (6) and 7 of the same Act.

Some of the 6-count charge read to Dokpesi, all of which he denied are:

“That you Dr. Raymond Dokpesi and Daar Investment and Holding Company Limited between October 2014 and 19 March, 2015 in Abuja, conducted procurement fraud by means of fraudulent and corrupt act, to wit: receipt of payment into the account of Daar Investment and Holding Company Limited with First Bank of Nigeria Plc. of public funds in the sum of N2,120,000,000 from the account of the office of National Security Adviser (NSA) with the Central Bank of Nigeria for the funding of media activities for the 2015 presidential election campaign for the People Democratic Party (PDP) and you thereby committed an offence contrary to section 58 (4) (b) of the Public Procurement Act, 2007 and punishable under Section 58 (6) & (7) of the same Act”.

“That you Dr. Raymond Dokpesi and Daar Investment and Holding Company Limited between October 2014 and 19 March, 2015 in Abuja, entered into a purported contract on presidential media initiative and received payment in the sum of N2,120,000,000 into the account of Daar Investment and Holding Company Limited with First Bank of Nigeria Plc. from the account of the office of National Security Adviser (NSA) with the Central Bank of Nigeria on account of the purported contract without a “Certificate of “No Objection to Contract Award” duly issued by Public Procurement Bureau and you thereby committed an offence contrary to section 16 (1) (b), (4) & (5) of the Public Procurement Act, 2007 and punishable under Section 58 (6) of the same Act”.

“That you Dr. Raymond Dokpesi and Daar Investment and Holding Company Limited between 22 January and 19 March, 2015 in Abuja, knew that an aggregate sum of N2,120,000,000 directly represented the proceeds of criminal conduct of Col. Mohammed Sambo Dasuki (rtd) and Shuaibu Salisu who were National Security Adviser and the Director of Finance, Office of the National Security Adviser (NSA) respectively to wit: criminal breach of trust in respect of the said amount, used the said property and you thereby committed an offence punishable under Section 17 (b) of the Economic and Financial Crimes Commission (Establishment) Act, 2004”.