Court Orders Arrest of Dana Air MD Over N1.3 Billion Fraud
The Federal High Court in Abuja has issued an arrest warrant for Mr. Hathiramani Ranesh, the Managing Director of Dana Air, for allegedly evading court proceedings in a ₦1.3 billion fraud case.
Justice Obiora Egwuatu ordered the arrest after Mr. Ranesh repeatedly failed to appear in court, despite being served with charges and required to attend multiple sessions. The judge cited Section 184 of the Administration of Criminal Justice Act (ACJA) 2015, which allows the court to order the arrest of a defendant who does not comply with court summons.
“The 1st defendant is bound to appear before the court, and if he does not, the court can issue a warrant for his arrest,” Justice Egwuatu declared. “Accordingly, relying on the said provision, I hereby issue a warrant of arrest for the 1st defendant.” He further mandated that Mr. Ranesh must appear in court on 13th January 2025 before any objections could be raised.
The case was initially brought to court by the Federal Government’s counsel, Mojisola-Okeya Esho, who requested a bench warrant after Mr. Ranesh failed to attend his arraignment. Esho noted that Mr. Ranesh and Dana Air faced six charges related to fraud, including the alleged misappropriation of ₦864 million meant for revitalising the Dana Steel Rolling Factory in Katsina.
Dana Air’s defence counsel, B. Ademola-Bello, argued against Esho’s request, insisting they had filed a preliminary objection challenging the court’s jurisdiction. However, Esho contended that Mr. Ranesh must first be arraigned before any preliminary objections could be addressed.
Details of the Case
The Attorney General of the Federation (AGF) filed six charges against Mr. Ranesh, Dana Group PLC, and Dana Steel Ltd. Prosecutors allege that between 2014 and 2018, the defendants conspired to divert funds and assets from a bond intended to support Dana Steel’s operations in Katsina.
One charge accuses the defendants of conspiring to remove and sell industrial generators valued at ₦450 million, which were collateralised under a deed of debenture. Another charge claims that ₦864 million, intended for the Katsina factory’s production activities, was fraudulently diverted for other purposes. Additionally, ₦60.3 million was allegedly transferred to an account at Access Bank, contrary to the bond’s terms.
The total amount implicated in these charges is approximately ₦1.374 billion. Each offense is punishable under Section 516 of the Criminal Code Act, Laws of the Federation of Nigeria, 2004.
The court adjourned the case until 13th January 2025, when the arraignment or objection hearing is expected to proceed. Dangote Denies Fuel Storage Misrepresentation Amid NNPC Tensions
