The Economic and Financial Crimes Commission (EFCC) has arraigned three Indian nationals and a Nigerian before a Kwara State High Court over an alleged criminal breach of trust involving KAM Steel Integrated Company Limited.
Those charged are Lalit Sarwat, Ravi Raghavendra and Gagan Sarswat, alongside an Ilorin-based dispatch manager, Oniyide Samuel. They appeared on Wednesday, December 17, 2025, before Justice Sulaiman Akanbi sitting in Ilorin.
The EFCC accused the defendants of conspiring between November 2024 and September 2025 to unlawfully divert company property while working as employees of KAM Steel. The offences are contained in a two-count charge bordering on conspiracy and criminal breach of trust, contrary to Sections 97 and 314 of the Penal Code.
According to the prosecution, the defendants were entrusted with steel rebars belonging to the company but allegedly breached that trust by unlawfully dealing with the materials. Another suspect, Kumar Saroj, was listed as being at large.
All the defendants pleaded not guilty when the charges were read in court.
Following their pleas, EFCC counsel, Cosmas Ugwu, asked the court to remand the defendants in the custody of the Nigerian Correctional Service pending trial. Defence lawyers, Ademuyiwa Abe, S. J. Ochai and D. M. Ayuba, countered with bail applications, arguing that the offences were bailable under the law.
However, the EFCC opposed the bail requests, warning that the three foreign nationals posed a serious flight risk. The prosecution also urged the court to fast-track the trial.
After listening to both sides, Justice Akanbi ordered that the defendants be remanded in custody and adjourned the case to Friday, December 19, 2025, for a ruling on the bail applications.
