Justice Sulaiman Akanbi of the Kwara State High Court sitting in Ilorin has remanded three Indian nationals—Lalit Sarwat, Ravi Raghavendra, and Gagan Sarswat, alongside an Ilorin-based dispatch manager, Oniyide Samuel, in the custody of the Nigerian Correctional Service over allegations of criminal breach of trust.
The defendants were remanded after being arraigned by the Economic and Financial Crimes Commission (EFCC) 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 employed by 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.”
Count two 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 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.”
After the charges were read to the foreigners in a language they could understand, the defendants pleaded not guilty to the allegations levelled against them by the anti-graft agency.
Following their pleas, EFCC counsel Cosmas Ugwu applied for the remand of the defendants in the custody of the Nigerian Correctional Service pending trial.
This was opposed by the defendants’ lawyers, Ademuyiwa Abe, S. J. Ochai, and D. M. Ayuba, who filed bail applications, arguing that the offences for which their clients are charged are bailable.
In opposing the bail applications, Ugwu urged the court to refuse bail, citing that three of the defendants are foreign nationals and pose a flight risk. He also requested 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.
