Justice Maryam Hassan Aliyu gave the order after Olejeme was arraigned on nine counts in which she was accused of abusing her office, receiving bribes, awarding contracts without due process among others.
Up to N3 billion was involved in the alleged fraud, Daily Post reports.
She pleaded not guilty when the charge was read.
Her lawyer, Paul Erokoro (SAN), applied for bail, which the prosecuting lawyer, Steve Odiase, did not oppose.
Her lawyer had sought bail on self recognisance or on liberal terms.
The judge adjourned till Friday for the ruling and ordered that the defendant be kept in the custody of the EFCC.