The Nigerian government is seeking the arrest of Hathiramani Ranesh, managing director of Dana Air, over alleged involvement in a ₦1.3 billion fraud. Ranesh's absence from court prompted the federal attorney-general to request a bench warrant, as he faces multiple charges related to conspiracy and misappropriation of funds.
The federal government of Nigeria is seeking a bench warrant for the arrest of Hathiramani Ranesh, managing director of Dana Air, over alleged involvement in a ₦1.3 billion fraud case. This request was made during a court session in Abuja after Ranesh failed to appear for his arraignment. The attorney-general's office has filed a six-count charge against Ranesh, Dana Group PLC, and Dana Steel Ltd, detailing accusations of conspiracy and fraud related to the sale and misappropriation of assets linked to the Dana Steel Rolling Factory in Katsina.
The charges include claims that Ranesh and others conspired to remove and sell four industrial generators valued at over ₦450 million, which were collateral for a bond. Additionally, they are accused of diverting ₦864 million intended for factory production and improperly transferring ₦60.3 million to another account, both drawn from bond proceeds meant for resuscitating operations at the factory.
During the court proceedings, the defense argued against the court's jurisdiction to hear the case before the defendants were formally arraigned. However, the prosecution maintained that arraignment was necessary. The judge requested further legal references from the defense and adjourned the matter until November 4, 2024, to address these procedural issues.
