The Economic and Financial Crimes Commission (EFCC) have arraigned four individuals on Wednesday, December 17, before Justice Sulaiman Akanbi of the Kwara State High Court sitting in Ilorin.
The defendants are three Indian nationals—Lalit Sarwat, Ravi Raghavendra and Gagan Sarswat—and an Ilorin-based dispatch manager, Oniyide Samuel.
They faced a two-count charge of conspiracy and criminal breach of trust, offences punishable under Sections 97 and 314 of the Penal Code.
The commission alleged that the defendants, employed by KAM Steel Integrated Company Limited, conspired between November 2024 and September 2025 to commit criminal breach of trust.
Count one of the charge states: “That you, Lalit Sarwat, Kumar Saroj (at large), Oniyide Samuel (trading under the name and style of Incognito Steel), Ravi Raghavendra and Gagan Sarswat, between November 2024 and September 2025, whilst being servants in the employment of KAM Steel Integrated Company Limited, agreed among yourselves to do an unlawful act, to wit: criminal breach of trust, and thereby committed an offence punishable under Section 97 of the Penal Code.”
Count two reads: “That you, Lalit Sarwat, Kumar Saroj (at large), Oniyide Samuel (trading under the name and style of Incognito Steel), Ravi Raghavendra and Gagan Sarswat, between November 2024 and September 2025, whilst being servants in the employment of KAM Steel Integrated Company Limited and in that capacity entrusted with the company’s property, to wit: steel rebars, committed criminal breach of trust in respect of the said properties and thereby committed an offence punishable under Section 314 of the Penal Code.”
The defendants pleaded not guilty to the charges when they were read to them.
Following the pleas, Cosmas Ugwu, EFCC counsel, applied for the remand of the defendants in the custody of the Nigerian Correctional Service pending trial.
Counsel to the defendants, Ademuyiwa Abe, S. J. Ochai and D. M. Ayuba, filed applications for bail, arguing that the offences charged are bailable.
Opposing the bail applications, Ugwu urged the court to refuse them, contending that three of the defendants are foreign nationals and therefore a flight risk.
Ugwu also requested that the court schedule an accelerated hearing of the case.
After hearing submissions from both sides, Justice Akanbi adjourned the matter to Friday, December 19, for ruling on the bail applications and ordered that the defendants remain in the custody of the Nigerian Correctional Service.