EFCC arraigns three Indians, Nigerian in steel firm theft scandal

Abdullateef Fowewe

The Economic and Financial Crimes Commission (EFCC) has arraigned three Indian nationals and a local dispatch manager before a Kwara State High Court for allegedly conspiring to steal steel rebars from their employer, KAM Steel Integrated Company Limited.

The case highlights rising concerns over corporate fraud involving foreign workers.

In a statement Thursday, the EFCC detailed the Wednesday arraignment of Lalit Sarwat, Ravi Raghavendra, Gagan Sarswat, and Oniyide Samuel (trading as Incognito Steel) before Justice Sulaiman Akanbi.

They face two counts of conspiracy and criminal breach of trust under Sections 97 and 314 of the Penal Code.

Count one alleges: “That you, Lalit Sarwat, Kumar Saroj (at large), Oniyide Samuel…, 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.”

Count two accuses them of committing “criminal breach of trust in respect of the said properties,” specifically steel rebars entrusted to them.

According to the anti-graft agency, all defendants pleaded not guilty.

EFCC counsel Cosmas Ugwu sought remand, citing flight risks from the foreign nationals, while their lawyers—Ademuyiwa Abe, S.J. Ochai, and D.M. Ayuba—pushed for bail, deeming the offenses bailable.

Justice Akanbi adjourned to Friday, December 19, for a ruling and ordered remand in correctional custody.