Fraud Watch
FG Probe Dana Air MD Ranesh Over Alleged N1.3Billion Fraud
Nigeria Seeks Arrest of Dana Air MD Over Alleged N1.3 Billion Fraud.
The Federal Government of Nigeria has requested a bench warrant for the arrest of Hathiramani Ranesh, Managing Director of Dana Air, due to his failure to appear in court for arraignment in connection with an alleged N1.3 billion fraud case.
Allegations Against Ranesh
Ranesh, along with Dana Group PLC and Dana Steel Ltd, face a six-count charge filed by the Attorney-General of the Federation (AGF). The charges include:
– Conspiracy to Steal and Sell Industrial Generators: Allegedly conspiring to steal and sell four industrial generators worth over N450 million between September and December 2018 at DANA Steel Rolling Factory in Katsina.
– Fraudulent Diversion of Funds: Allegedly conspiring to divert N864 million meant to revive production at the factory to unauthorized uses between April 7 and 8, 2014, at a property on Oshodi-Apapa Expressway in Lagos.
– Unauthorized Transfer of Funds: Allegedly conspiring to transfer N60.3 million to an Access Bank account belonging to Atlantic Shrimpers for unapproved purposes.
Court Proceedings
During the court session on Thursday, Mojisola Okeya, counsel for the AGF, requested the court issue a bench warrant for Ranesh’s arrest due to his absence. However, the defense lawyer, B. Ademola-Bello, opposed this, arguing that they had filed a preliminary objection challenging the court’s jurisdiction.
Justice Obiora Egwuatu adjourned the case until November 4, directing both parties to address the court on whether the objection should be considered before the arraignment.
Fraud Watch
Alleged $6.2m Fraud: Emefiele Awarded Contracts Without Bidding, Witness Tells Court
Emefiele’s Trial: Witness Reveals Irregularities in Contract Award.
The Economic and Financial Crimes Commission (EFCC) prosecution witness, Stephen Salau Gana, exposed irregularities in contract awards during Godwin Emefiele’s tenure as Central Bank of Nigeria (CBN) governor.
Key Testimony
1. No competitive bidding for April 16 Investment Limited’s N99.9 million vehicle supply contract.
2. Contract exceeded CBN governor’s approval threshold (N100 million).
3. Direct procurement justified only in emergencies, sole manufacturer/distributor, or exclusive dealership cases.
4. April 16 Investment Limited met none of these conditions.
Prosecution’s Case
Emefiele faces amended 20-count charges:
1. Conspiracy
2. Criminal breach of trust
3. Forgery
4. Obtaining $6,230,000 by false pretenses
Trial Update
Justice Hamza Mu’azu adjourned the case to November 13, 2024, for continuation.
Defense and Prosecution
- Defense counsel to respond to allegations.
- Prosecution to present additional witnesses.
Stay tuned for updates on this developing story.
Fraud Watch
Yahaya Bello’s Co-Defendants Denied Bail in N110.4 Billion Fraud Case
Court Denies Bail to Yahaya Bello’s Co-Defendants in N110.4 Billion Fraud Case.
Justice Maryanne Anenih of the Federal Capital Territory High Court in Maitama, Abuja, has dismissed the oral bail applications of Abdulsalam Hudu and Umar Oricho, co-defendants of former Kogi State Governor Yahaya Bello in a N110.4 billion fraud case brought by the Economic and Financial Crimes Commission (EFCC).
Reasons for Dismissal
The defence counsel, J.B. Daudu (SAN) and A.M. Aliyu (SAN), argued that their clients were due for release from the EFCC’s holding facility, but prosecution counsel Rotimi Oyedepo (SAN) opposed their release, citing the lack of formal written applications. Justice Anenih upheld the prosecution’s objection, emphasizing the importance of following proper legal procedures.
Background of the Case
Hudu and Oricho were arraigned on October 3, 2024, and remanded in the EFCC’s custody. Yahaya Bello, the former governor, has consistently refused to appear in court for his arraignment on 16-count charges of fraud totaling N110.4 billion.
Update on Yahaya Bello’s Case
During Thursday’s proceedings, Oyedepo informed the court that the EFCC had complied with the earlier order to publish a public summons against Yahaya Bello in a national newspaper. The court adjourned the case until November 14 and 20, 2024, for Yahaya Bello’s arraignment.
Related Developments
The Court of Appeal had previously ordered Yahaya Bello to appear for arraignment, stating that no court has the power to preclude a law enforcement agent from performing its statutory functions.
Fraud Watch
Alleged N35m Fraud: Court Pushes Businessman’s Trial to Dec 19
N35m Fraud Trial Adjourned: Businessman Ericbona Elio Ushie to Face Justice in December.
The trial of Ericbona Elio Ushie, a businessman accused of a N35 million fraud, has been adjourned until December 19, 2024, by Justice O.O. Abike-Fadipe of the Special Offences Court in Ikeja, Lagos. Ushie faces a 13-count charge, including stealing, obtaining under false pretenses, and forgery, for allegedly converting N35,397,000 of Calibration and Non-destructive Services Limited’s funds for personal use.
Trial Background
The Economic and Financial Crimes Commission (EFCC) arraigned Ushie on February 12, 2024. Prosecution counsel Bilikisu Buhari stated that 13 witnesses would testify against him. Defence counsel C.C. Orji applied for bail, but Justice Abike-Fadipe revoked it after viewing a viral video showing Ushie boasting about not being arrested or detained.
Latest Developments
At the October 23, 2024, proceedings, Victor Okpara (SAN) requested a variation of the bail conditions. Okpara argued passionately, and Justice Abike-Fadipe granted the application, adjourning the trial until December 19, 2024.
Charges Against Ushie
- Dishonestly converting N35,397,000 of Calibration and Non-destructive Services Limited’s funds for personal use.
- Obtaining N35,397,000 under false pretenses, claiming it was for securing a contract from the Niger Delta Development Commission (NDDC).
Ushie pleaded “not guilty” to the charges.
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