EFCC Arraigns Three Indians, Nigerian for Alleged Criminal Breach of Trust

Ilorin, Kwara State, Nigeria
December 17, 2025

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, Ilorin.
The defendants are facing a two-count charge of conspiracy and criminal breach of trust, contrary to and punishable under Sections 97 and 314 of the Penal Code. The EFCC alleged that the accused, while 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.”
Particulars of count two allege:

“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 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.”

All the defendants pleaded not guilty to the charges when they were read to them.
Following the pleas, EFCC Counsel, Cosmas Ugwu, 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 are bailable.

Opposing the bail applications, Ugwu contended that three of the defendants are foreign nationals and posed a flight risk, urging the court to deny bail and to grant an accelerated hearing of the matter.
After hearing arguments from both sides, 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 pending further proceedings.