The Economic and Financial Crimes Commission (EFCC) has arraigned three Indian nationals—Lalit Sarwat, Ravi Raghavendra, and Gagan Sarswat—alongside an Ilorin-based dispatch manager, Oniyide Samuel, over alleged conspiracy and criminal breach of trust involving steel products.
The defendants were brought before Justice Sulaiman Akanbi of the Kwara State High Court, Ilorin, on Wednesday, December 17, 2025, to face a two-count charge.
According to the EFCC, the offenses contravene Sections 97 and 314 of the Penal Code. The commission alleged that the defendants conspired between November 2024 and September 2025 to commit criminal breach of trust while employed by KAM Steel Integrated Company Limited.
In the first count, the EFCC accused the defendants, alongside one Kumar Saroj, who is currently at large, of agreeing to carry out an unlawful act—criminal breach of trust—an offense punishable under Section 97 of the Penal Code.
The second count alleged that the defendants, having been entrusted with company property in the course of their employment, dishonestly misappropriated steel rebars belonging to KAM Steel Integrated Company Limited, contrary to Section 314 of the Penal Code.
All four defendants pleaded not guilty to the charges.
Following their pleas, EFCC counsel, Cosmas Ugwu, requested that the defendants be remanded in the custody of the Nigerian Correctional Service pending trial.
However, defense counsel Ademuyiwa Abe, S. J. Ochai, and D. M. Ayuba filed bail applications on behalf of their clients, arguing that the offenses are bailable.
Ugwu opposed the applications, urging the court to deny bail on the grounds that three of the defendants are foreign nationals who may abscond if released. He also called for an accelerated hearing of the case.
After hearing arguments from both sides, Justice Akanbi adjourned the matter to Friday, December 19, 2025, for ruling on the bail applications and ordered that the defendants be remanded in the custody of the Nigerian Correctional Service pending the court’s decision.
