The Economic and Financial Crimes Commission (EFCC) on Wednesday, December 17, arraigned three Indian nationals Lalit Sarwat, Ravi Raghavendra, Gagan Sarswat and a Nigerian, Oniyide Samuel, before Justice Sulaiman Akanbi of the Kwara State High Court in Ilorin.
The defendants faced a two-count charge of conspiracy and criminal breach of trust, offences punishable under Sections 97 and 314 of the Penal Code. The EFCC alleged that while employed at KAM Steel Integrated Company Limited between November 2024 and September 2025, the accused conspired to unlawfully divert the company’s property, specifically steel rebars.
Count one of the charge stated that the defendants agreed to commit criminal breach of trust while serving as employees of KAM Steel. Count two accused them of committing criminal breach of trust in relation to the company’s property entrusted to them.
The defendants pleaded not guilty to all charges. Following the plea, EFCC counsel, Cosmas Ugwu, requested that the defendants be remanded in the custody of the Nigerian Correctional Service pending trial. Defence lawyers Ademuyiwa Abe, S. J. Ochai, and D. M. Ayuba filed applications for bail, arguing that the charges are bailable.
Ugwu opposed the bail applications, citing the three foreign nationals as flight risks and urged the court to expedite hearing of the case. Justice Akanbi adjourned the matter to Friday, December 19, 2025, for ruling on the bail applications, and the defendants remain in the custody of the Nigerian Correctional Service pending the court’s decision.
