A Federal High Court in Abuja on Monday granted bail to former chairman of Daar Communication Plc, Raymond Dokpesi, in a money laundering suit brought against him by the Federal Government.
Mr. Dokpesi is facing a six-count charge of alleged money laundering.
He was charged by the Economic and Financial Crimes Commission (EFCC).
Justice Gabriel Kolawole of the Federal High Court said Mr. Dokpesi should be granted bail on the condition that he provides two sureties with N200 million each.
The first surety should be a serving or retired director in the civil service, the judge ruled.
The second surety should be a private investor who has paid tax for at least the last three years.
Mr. Kolawole also said Mr. Dokpesi should not be rearrested for questioning for over eight and a half hours any time the EFCC plans to continue with the investigation.
“It should be no more than 10am to 6pm, any day,” the judge directed.
The court also ordered Mr. Dokpesi to submit his international passport to the court’s registrar within 24 hours.
Mr. Dokpesi is to be remanded in Kuje prison till the bail conditions are met, the judge said.