The magistrate, Mr Olusola Aluko, who ordered the accused to be kept behind bars, said it was due to the magnitude of his offences.
Mayowa is facing a two-count charge of fraud.
Aluko also revoked the bail application by the defence counsel and ordered that a formal bail application must be served on March 24, when the case would come up for hearing.
Earlier, the prosecutor, Insp. Joshua Oladoye, had told the court that the accused committed the offences on Dec.16, 2016 at Okefia, Osogbo.
Prosecutor Oladoye told the court that Mayowa under the pretext that he would supply floor tiles to one Okeyode Olaoluwa collected N1million from him.
The prosecutor said the accused had been on the run since he duped Olaoluwa before he was arrested by the police.
He said the offences contravened Sections 419 and 390(9) of the criminal code, cap 34, vol.11, Laws of Osun, 2003.
The accused pleaded not guilty to the charges preferred against him.
The counsel to the accused, Mrs Bayo Odetunde, prayed the magistrate to grant her client bail in the most liberal terms.
