The Economic and Financial Crimes Commission (EFCC) has arraigned three Indian nationals—Lalit Sarwat, Ravi Raghavendra and Gagan Sarswat—alongside a Nigerian, Oniyide Samuel, before the Kwara State High Court sitting in Ilorin over alleged conspiracy and criminal breach of trust.
The defendants were brought before Justice Sulaiman Akanbi on Wednesday, December 17, 2025, on a two-count charge bordering on conspiracy and criminal breach of trust, contrary to and punishable under Sections 97 and 314 of the Penal Code.
According to the EFCC, the defendants, while serving as employees of KAM Steel Integrated Company Limited, allegedly conspired between November 2024 and September 2025 to commit criminal breach of trust.
Count one of the charge alleged that the defendants, alongside one Kumar Saroj who is currently at large, agreed among themselves to commit the unlawful act of criminal breach of trust while in the employment of the company.
The second count stated that the defendants, having been entrusted with the company’s property—specifically steel rebars—allegedly diverted the materials in breach of the trust reposed in them, thereby committing an offence punishable under Section 314 of the Penal Code.
All the defendants pleaded not guilty when the charges were read to them in open court.
Following their pleas, counsel to the EFCC, Cosmas Ugwu, applied for their remand in the custody of the Nigerian Correctional Service pending the determination of the case.
However, defence counsel Ademuyiwa Abe, S. J. Ochai and D. M. Ayuba filed separate bail applications on behalf of their clients, arguing that the offences were bailable under the law.
Opposing the applications, Ugwu urged the court to deny bail, contending that three of the defendants are foreign nationals and therefore posed a flight risk. He also requested an accelerated hearing of the matter.
After listening to submissions from both parties, Justice Akanbi adjourned the case 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.
