Court orders arrest of Dana Air MD over alleged ₦1.3bn fraud
A Federal High Court in Abuja issued an arrest warrant on Monday for Mr. Hathiramani Ranesh, Managing Director of Dana Air, due to his alleged refusal to appear in court for trial.
Justice Obiora Egwuatu ruled that Ranesh’s arrest was necessary after he failed to attend court despite being served with charges and multiple proceedings in the case.
Justice Egwuatu stated that under Section 184 of the Administration of Criminal Justice Act (ACJA) 2015, the court has the authority to issue an arrest warrant for any defendant who does not appear in court.
“The first defendant is obligated to appear before the court, and if he does not, the court can issue a warrant for his arrest.
“Therefore, based on this provision, I hereby issue a warrant for the arrest of the first defendant.
“The defendant must appear before this court on January 13, 2025, before any objections can be considered,” the judge stated.
The judge then adjourned the matter until January 13, 2025, for hearing.
The Federal Government, represented by lawyer Mojisola-Okeya Esho, had requested the court on October 10 to issue a bench warrant for Dana Air. Esho argued that Ranesh had refused to appear for his arraignment in the alleged ₦1.3 billion fraud case brought against him by the Office of the Attorney General of the Federation (AGF).
However, the defense lawyer, B. Ademola-Bello, disagreed with Esho. He argued that they had filed a preliminary objection challenging the court’s jurisdiction to hear the case and that the prosecution had already been served.
In response, Esho objected to addressing the preliminary objection, asserting that the defendants should be arraigned first before the court could consider any other applications.
The judge then adjourned the matter until November 4 (today) for the arraignment and/or hearing of the preliminary objection.
Journalists report that the Attorney General of the Federation (AGF) has filed a six-count charge against Ranesh and two others.
The charge, marked FHC/ABJ/CR/101/2021, was filed by Moshood Adeyemi, Deputy Director of Public Prosecutions in the office of the AGF and Minister of Justice. Dana Group PLC and Dana Steel Ltd are listed as the 2nd and 3rd defendants, respectively.
In count one, Ranesh and the two companies, along with others at large, were alleged to have committed a felony between September and December 2018 within the premises of DANA Steel Rolling Factory in Katsina.
They were accused of conspiring to remove, convert, and sell four units of industrial generators—specifically, three units of 9,000 KVA and one unit of 1,000 KVA—valued at over ₦450 million. These generators were part of the Deed of Asset Debenture charged as collateral security for a bond issued in their favor, which Deed remained valid at all material times.
In count three, the defendants and others at large were alleged to have conspired to fraudulently divert ₦864 million between April 7 and 8, 2014, at House No. 116, Oshodi-Apapa Expressway, Isolo-Lagos. This money was said to be part of the bond proceeds from Ecobank, intended for the resuscitation of production at Dana Steel Rolling Factory in Katsina but was used for unapproved purposes.
In count five, the defendants and others at large were accused of conspiring to fraudulently remove and transfer ₦60,300,000 (Sixty Million Three Hundred Thousand Naira) to one Atlantic Shrimpers Account No: 0001633175 with Access Bank. This amount was also part of the bond proceeds from Ecobank meant for the resuscitation of production at Dana Steel Rolling Factory for other unapproved uses.
The cumulative amount involved in the charges is ₦1,374,300,000.
All offenses are said to be contrary to and punishable under Section 516 of the Criminal Code Act, Laws of the Federation of Nigeria, 2004.
Reports have it that Ranesh has not appeared in court since the case commenced before Justice Egwuatu.
When the case was called on Monday, Ademola-Bello informed the court that at the last adjourned date, the court directed the parties to file a written address on the points of law regarding Sections 221 and 396(2) of the ACJA, 2015.
“In compliance, we filed our written address on October 31, 2024. Upon receipt of the prosecution’s response, we also filed a reply on points of law dated October 31, 2024.
“Subject to the convenience of the court, we are ready to proceed,” he stated.
Esho, representing the AGF, confirmed that she had been served.
However, Justice Egwuatu inquired about the whereabouts of Ranesh.
“Why are the defendants absent?” the judge asked.
The defense lawyer responded that Ranesh was not in the country and that the other two defendants are statutory bodies of which Ranesh is the managing director.
Ademola-Bello submitted that he believed the jurisdictional issues raised in their preliminary objection should be addressed first.
“Are we playing here? Where is the respect for the court when the people you are defending are not present?” the judge asked.
The lawyer replied that Section 266 of the ACJA, 2015, provides for a defendant who is not in court.
“We urge the court to be guided by this provision,” he said.
Justice Egwuatu, who delivered his ruling, ordered that Ranesh be arrested and brought to court on the next adjourned date.
Proofreading by Uchechi Ojo, Sub-editor at NeptunePrime.
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