A Federal High Court in Abuja has issued a warrant for the arrest of Mr. Hathiramani Ranesh, the Managing Director of Dana Air.
This decision follows Mr. Ranesh’s repeated failure to appear in court over an alleged ₦1.3 billion fraud case.
Justice Obiora Egwuatu, who presided over the case, expressed frustration with Mr. Ranesh’s continued absence.
The judge ordered that Mr. Ranesh be detained and brought before the court to answer the charges.
Justice Egwuatu emphasized that the law requires defendants to attend court sessions.
He cited Section 184 of the Administration of Criminal Justice Act (ACJA) 2015 to support his decision.
“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 stated.
The judge explained that Mr. Ranesh must appear on January 13, 2025, to address the allegations.
The case, adjourned until then, has attracted significant public interest due to the high profile of Dana Air.
According to reports, Mr. Ranesh and two other companies, Dana Group PLC and Dana Steel Ltd, are under investigation for conspiracy and fraud.
The Federal Government, represented by attorney Mojisola-Okeya Esho, had requested the court to issue the arrest warrant due to Mr. Ranesh’s repeated absence.
Ms. Esho noted that Mr. Ranesh had evaded his arraignment despite being served with court documents.
“The defendant has failed to honor the summons, showing blatant disregard for the judicial process,” she argued.
Ms. Esho also argued that the arraignment must occur before any other motions or objections could be heard.
However, the defense lawyer, Mr. B. Ademola-Bello, opposed her stance, arguing that they had filed a preliminary objection regarding the court’s jurisdiction.
He claimed that the objection must be considered before any arraignment or proceedings.
Ademola-Bello insisted that Mr. Ranesh was not in Nigeria and that the other defendants, Dana Group and Dana Steel, were corporate entities.
Justice Egwuatu expressed disbelief at the defense’s argument, stating, “Are we playing here? Where is the respect for the court when the people you are defending are not in court?”
The court ruled in favor of the prosecution’s request, officially issuing a warrant for Mr. Ranesh’s arrest.
This high-profile fraud case centers around accusations of illegal financial dealings linked to Dana Steel Rolling Factory in Katsina.
The charges allege that Mr. Ranesh and other parties conspired to misappropriate funds earmarked for the factory’s revival.
The allegations include converting and selling industrial generators valued at over ₦450 million.
The prosecution claims that the equipment was used as collateral for a bond, making the sale a breach of trust.
In another charge, the defendants are accused of diverting ₦864 million from a bond issued by Ecobank for unapproved purposes.
Additionally, prosecutors allege that ₦60.3 million was diverted into an account with Access Bank, registered under Atlantic Shrimpers.
The cumulative amount involved in these alleged fraudulent actions exceeds ₦1.3 billion.
All charges filed by the Attorney-General’s Office are based on violations of the Criminal Code Act of 2004.
According to Section 516 of the act, conspiracy and fraudulent diversion of funds are punishable offenses in Nigeria.
The prosecution, represented by Deputy Director Moshood Adeyemi, is determined to hold Mr. Ranesh accountable.
Mr. Ranesh has not appeared in court since the trial began, raising concerns about accountability in high-stakes financial cases.
Dana Air, a prominent airline in Nigeria, has not issued an official statement on the matter.
