A Federal High Court sitting in Abuja on Monday granted bail to the founding Chairman of Daar Communications Plc, Chief Raymond Dokpesi in the sum of N400m.
Dokpesi is facing a six count criminal charge bordering on money laundering.
Ruling on Dokpesi's bail application, Justice Gabriel Kolawole ordered that the accused must produce two sureties in the sum of N200m (two hundred million naira) each.
The court ordered that one of the sureties must be a serving or retired civil servant, not below the level of a Director.
The court also ruled that the second surety may be an entrepreneur but must submit three years tax clearance.
According to Justice Kolawole, any of the two sureties must tender the title deeds of a landed property in any part of the country , the value of which must not be less than N200m.
The judge also ruled that each of the sureties must depose to an affidavit of means which should be submitted with two recent passport photographs to the Deputy Chief Registrar, DCR, Administration, of the court.
In addition to the above conditions, Dokpesi was ordered to surrender his international passport to the DCR of the Federal High Court in charge of litigation.
The accused is to be remanded in prison custody until he fulfills his bail conditions.
Meanwhile, the court has slated February 17, 18 and March 2 and 3, 2016, for full hearing to begin on the case.
Photo credit : Vanguard
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