Nigeria seeks arrest of Dana Air MD over alleged N1.3b fraud

October 11, 2024

By Samuel Ogunsona

The Nigerian Government has urged a Federal High Court in Abuja to issue a bench warrant for the arrest of Dana Air’s Managing Director, Hathiramani Ranesh, due to his failure to appear in court for arraignment in connection with an alleged N1.3 billion fraud case.

According to reports, 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 Federal Government has filed a six-count charge against Ranesh and two others, including Dana Group PLC and Dana Steel Ltd. The charges include conspiracy to steal and sell industrial generators, fraudulent diversion of funds, and unauthorized transfer of funds.

Specifically, Ranesh and others are accused of conspiring to steal and sell four industrial generators worth over N450 million between September and December 2018 at DANA Steel Rolling Factory in Katsina. Additionally, they allegedly conspired to fraudulently divert N864 million meant to revive production at the factory to unauthorized uses between April 7 and 8, 2014, at a property on Oshodi-Apapa Expressway in Lagos.

Furthermore, the defendants are accused of conspiring to transfer N60.3 million to an Access Bank account belonging to Atlantic Shrimpers, intended for the factory’s revival but used for unapproved purposes.

The total charges involve the alleged misappropriation of N1.37 billion, violating Section 516 of the Criminal Code Act, Laws of the Federation of Nigeria, 2004.

Defense lawyer B. Ademola-Bello opposed the request for a bench warrant, arguing that they had filed a preliminary objection challenging the court’s jurisdiction. Ademola-Bello maintained that the objection must be resolved before the arraignment, citing case precedents.

However, Okeya countered that the defendants needed to be arraigned before any objections could be heard. Justice Egwuatu asked Ademola-Bello to point out any section of the Administration of Criminal Justice Act (ACJA), 2015, that supported his position.

After listening to both parties, Justice Egwuatu adjourned the case until November 4, directing both parties to address the court on whether the objection should be considered before the arraignment.

The outcome of the November 4 hearing will determine the next steps in the legal proceedings.