A Federal High Court Abuja on Monday granted bail to former Chairman of African Independent Television (AIT) Raymond Dokpesi, who is standing trial over alleged N2.1bn fraud.

In a ruling of the court, Justice Gabriel Kolawole granted bail to Dokpesi in the sum of N400 million and two sureties in like sum.

He said that each surety must have a landed property worth N200 million each.

Kolawole said that one of the sureties must be a serving or retired civil servant of the rank of a director in either the federal or state civil service.

He said, if retired, the surety must show a retirement letter indicating the organisation where he or she had served.

Kolawole also said that the second surety must be a private entrepreneur with evidence of three years tax clearance certificate and a verifiable landed property worth N200 million.

He said the sureties must sign an undertaking of forfeiture of the property to the Federal Government, in the event that the defendant did not make himself available for trial.

The judge ordered that the international passport of the defendant should be deposited with the registrar of the court.

He said failure to perfect the bail conditions, the defendant should be remanded in Kuje prison pending the time all the conditions would be met.

He also directed that Dokpesi should not be arrested by any government agency for any investigation.

He said that if any government agency wanted further investigation on the case, it should approach the defendant’s lawyers to make him available.

Dokpesi is standing trial alongside his company, DAAR Investment and Holdings Ltd, on a six-count-charge bordering on money laundering and contract fraud to the tune of N2.1billion