Nigerian Govt. Demands Arrest of Dana Air MD Over Failure to Appear in Court in N1.3 Billion Fraud Case

The Nigerian government has called for the arrest of Hathiramani Ranesh, Managing Director of Dana Air, over his failure to appear in court regarding a N1.3 billion fraud case. On Thursday, a request for a bench warrant was made before a Federal High Court in Abuja by Mojisola Okeya, representing the Attorney-General of the Federation.

The case was filed through the AGF’s office. It accused Ranesh, Dana Group PLC, and Dana Steel Ltd. of fraudulent diversion of funds, according to the News Agency of Nigeria. The six-count charge involved conspiracy, misappropriation, and the illegal sale of assets, including industrial generators valued at N450 million. These assets were said to be part of collateral for a bond from Ecobank meant to revive Dana Steel Rolling Factory in Katsina.

The fraud allegedly occurred between 2014 and 2018. The defendants were also accused of diverting N864 million from the bond proceeds to unauthorised accounts. An additional N60.3 million was also reportedly funneled into an Access Bank account for unrelated purposes. These actions, according to the charges, violated the Criminal Code Act, Laws of the Federation of Nigeria, 2004.

Okeya urged the court to issue a bench warrant for Ranesh’s arrest due to his continued absence from court sessions. However, Ranesh’s defense opposed the application, arguing that a preliminary objection had been filed, questioning the court’s jurisdiction. He said the issue must be settled before proceeding.

The judge adjourned the case to November 4 for further arguments.

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