EFCC Arraigns Three Indians, Nigerian over Alleged Steel Rebar Theft at KAM Steel

ILORIN – The Economic and Financial Crimes Commission (EFCC) has arraigned three Indian nationals and a Nigerian dispatch manager before a Kwara State High Court in Ilorin over an alleged conspiracy to steal steel rebars from their employer, KAM Steel Integrated Company Limited.

The defendants—Lalit Sarwat, Ravi Raghavendra, Gagan Sarswat, and Oniyide Samuel (trading as Incognito Steel)—faced a two-count charge of conspiracy and criminal breach of trust under Sections 97 and 314 of the Penal Code, offences punishable by up to 14 years imprisonment each. The alleged misconduct spanned November 2024 to September 2025, during which the accused, as employees of KAM Steel—a key player in Nigeria’s steel industry based in Kwara State—supposedly abused their positions of trust.

According to the charge sheet, the group conspired to dishonestly misappropriate company property, specifically steel rebars entrusted to them. Count one accuses them of agreeing “to do an unlawful act, to wit: criminal breach of trust.” Count two details their breach “in respect of the said properties,” with Kumar Saroj listed as a co-conspirator at large.

All four pleaded not guilty when the charges were read in open court before Justice Sulaiman Akanbi on Wednesday, December 17, 2025.

EFCC prosecutor Cosmas Ugwu pushed for their remand in Nigerian Correctional Service custody, citing flight risk from the foreign defendants and requesting an accelerated trial. Defense counsels Ademuyiwa Abe, S.J. Ochai, and D.M. Ayuba countered with bail applications, insisting the offences are bailable.

After listening to arguments, Justice Akanbi ordered the defendants’ remand and adjourned to Friday, December 19, 2025, for a ruling on bail.

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The case underscores rising concerns over internal fraud in Nigeria’s manufacturing sector, particularly steel production, where raw material theft has plagued firms amid economic pressures. KAM Steel, known for integrated rolling mills and rebar supply to construction projects, has not issued a public statement.

EFCC continues its probe, with the trial set to test the agency’s push against economic sabotage in critical industries.