The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned three Indian nationals and one Nigerian before the Kwara State High Court sitting in Ilorin over alleged conspiracy and criminal breach of trust.
Those arraigned are Lalit Sarwat, Ravi Raghavendra, Gagan Sarswat, and an Ilorin-based dispatch manager, Oniyide Samuel. They appeared before Justice Sulaiman Akanbi.
The defendants were charged on a two-count offence bordering on conspiracy and criminal breach of trust, contrary to 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 involving steel rebars belonging to the company.
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The Commission alleged that the defendants, alongside one Kumar Saroj who is currently at large, unlawfully converted the company’s property entrusted to them in the course of their employment.
All the defendants pleaded not guilty to the charges when they were read in open court.
Following the pleas, EFCC counsel, Cosmas Ugwu, applied for the remand of the defendants in the custody of the Nigerian Correctional Service pending trial.
However, defence counsels Ademuyiwa Abe, S. J. Ochai and D. M. Ayuba filed bail applications on behalf of the defendants, arguing that the offences were bailable.
Opposing the applications, the prosecution urged the court to deny bail, citing the foreign nationality of three of the defendants and the risk of flight. The EFCC also requested an accelerated hearing of the case.
After hearing arguments from both parties, 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.
