The Economic and Financial Crimes Commission (EFCC) on Wednesday, December 17, 2025, arraigned three Indian nationals—Lalit Sarwat, Ravi Raghavendra, and Gagan Sarswat—alongside an Ilorin-based dispatch manager, Oniyide Samuel, before Justice Sulaiman Akanbi of the Kwara State High Court in Ilorin.
They face a two-count charge of conspiracy and criminal breach of trust, contrary to Sections 97 and 314 of the Penal Code.
The EFCC alleged that the defendants, while employed by KAM Steel Integrated Company Limited, conspired between November 2024 and September 2025 to misappropriate company property, specifically steel rebars.
Count one of the charge states that the defendants agreed among themselves to commit criminal breach of trust. Count two specifies that they misappropriated company property entrusted to them in the course of their employment.
When the charges were read, all the defendants pleaded not guilty. Following their pleas, EFCC counsel, Cosmas Ugwu, requested that the defendants be remanded in the custody of the Nigerian Correctional Service pending trial.
The defendants’ lawyers—Ademuyiwa Abe, S.J. Ochai, and D.M. Ayuba—filed applications for bail, arguing that the offences are bailable. EFCC counsel opposed the applications, citing the three Indian nationals as flight risks and urging the court to fast-track the trial.
After hearing arguments from both sides, Justice Akanbi adjourned the matter to Friday, December 19, 2025, for a ruling on the bail applications, ordering that the defendants remain in custody until then.