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

The Economic and Financial Crimes Commission, EFCC, on Wednesday, December 17, 2025 arraigned three Indians, 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 sitting in Ilorin.

They were arraigned on a two-count charge bordering on conspiracy and criminal breach of trust, contrary to and punishable under Sections 97 and 314 of the Penal Code.

The Commission alleged that the defendants, while being servants in the employment of KAM Steel Integrated Company Limited, conspired among themselves between November 2024 and September 2025 to commit criminal breach of trust.

Count one of the charge 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, 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 state:

“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 their pleas, EFCC Counsel, Cosmas Ugwu, applied for the remand of the defendants in the custody of the Nigerian Correctional Service pending trial.

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Counsel to the defendants, Ademuyiwa Abe, S. J. Ochai and D. M. Ayuba, however filed applications for bail on behalf of their clients, arguing that the offences for which they are charged are bailable.

Opposing the bail applications, Ugwu urged the court to refuse the applications on the grounds that three of the defendants are foreign nationals and posed a flight risk. He further urged the court 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.