The Federal High Court of Nigeria has ordered that Abdulrasheed Maina be remanded in custody pending the end of his trial.
Punch reports that the order was issued by Judge Okon Abang of the court, following a petition filed by the EFCC.
Abdulrasheed Maina, a former chairman of the Nigerian Pension Reform Commission, is facing 12 charges with another company, all of which have been filed by the EFCC.
Maina was arrested in the Republic of Niger this week after a long search for bail.
Following his arrest in Niger, he was extradited to Nigeria on Thursday for further proceedings.