Nigeria Seeks Arrest Of Dana Air MD Ranesh Over Alleged N1.3Billion Fraud

On Thursday, the Nigerian Government requested a Federal High Court in Abuja to issue a bench warrant for the arrest of Mr. Hathiramani Ranesh, Managing Director of Dana Air.

The request came after Ranesh failed to appear in court for his arraignment in connection with an alleged N1.3 billion fraud case.

Mojisola Okeya, counsel for the Attorney-General of the Federation (AGF), made the oral application before Justice Obiora Egwuatu, citing Ranesh’s continued absence despite being summoned.

The News Agency of Nigeria (NAN) reports that the Federal Government, through the Attorney-General of the Federation (AGF), has filed a six-count charge against Ranesh and two others.

The case no: FHC/ABJ/CR/101/2021, was filed by Moshood Adeyemi, Deputy Director of Public Prosecutions in the AGF's office.

Dana Group PLC and Dana Steel Ltd were listed as the 2nd and 3rd defendants.

The first charge alleges that Ranesh, along with the two companies and others still at large, committed a felony between September and December 2018 at DANA Steel Rolling Factory in Katsina.

They are accused of conspiring to steal and sell four industrial generators worth over N450 million, which were part of a Deed of Asset Debenture used as collateral for a bond, still in effect at the time.

In the third charge, Ranesh and others were accused of conspiring to fraudulently divert N864 million, meant to revive production at the factory, to unauthorized uses. This allegedly occurred between April 7 and 8, 2014, at a property on Oshodi-Apapa Expressway in Lagos.

In the fifth charge, the defendants are alleged to have conspired to transfer N60.3 million to an Access Bank account belonging to Atlantic Shrimpers, also intended for the factory’s revival but used for unapproved purposes.

In total, the charges involve the alleged misappropriation of N1.37 billion. The offences are said to violate Section 516 of the Criminal Code Act, Laws of the Federation of Nigeria, 2004.

Ranesh had not appeared in previous court sessions. On Thursday, when the case was called, Okeya, the AGF's counsel, requested the court issue a bench warrant for Ranesh’s arrest due to his absence.

However, the defence lawyer, B. Ademola-Bello, opposed this, arguing that they had filed a preliminary objection challenging the court’s jurisdiction and that the prosecution had been served with it.

Okeya countered that the defendants needed to be arraigned before any objections could be heard.

Ademola-Bello maintained that the objection must be resolved before the arraignment, citing case precedents.

Justice Egwuatu asked Ademola-Bello to point out any section of the Administration of Criminal Justice Act (ACJA), 2015, that supported his position.

The judge adjourned the case until November 4, directing both parties to address the court on whether the objection should be considered before the arraignment.