Tension ran high at the FCT High Court in Jabi, Abuja, on Wednesday as hundreds of furious investors in Afriq Arbitrage System (AAS) stormed the premises, demanding the prosecution of Abayomi Oluwasesan over allegations of embezzling a whopping $87 million from the company.
The protest, which quickly gained viral traction online due to footage showing placard-waving demonstrators chanting slogans like “Abayomi Is the Thief!” and “Where Is Our $87 Million?”, was a passionate call for justice and the immediate release of the embattled AAS founder and CEO, Mr. Jesam Michael, who is currently remanded in Kuje Correctional Centre.
The Heart of the Outrage
The investors allege that the man truly responsible for the financial crisis at AAS is not Jesam Michael—but rather his former associate, Abayomi Oluwasesan. According to multiple protest leaders, Jesam entrusted Abayomi with operational control during a period of medical recovery, only for Abayomi to betray that trust.
“He was given the keys to keep the business running,” said investor Albert Churchill, visibly emotional as he addressed the crowd. “Instead, he used that access to lock Jesam out of the system, transferred millions into personal accounts, and went on a spending spree—buying cars, houses, and vanishing from Lagos.”
Where Is the Money?
Investor Mr. Chibuzor added that while Abayomi has reportedly returned a few assets under a plea deal, the bulk of the money—still locked in crypto wallets under his control—remains missing.
“This is not just about bail for Jesam,” Chibuzor emphasized. “This is about recovering what was stolen. We are not shouting in ignorance. The facts are out there—Abayomi even admitted to taking the money! Why is he free while our CEO, who tried to help people through blockchain innovation, is in detention?”
Public Sentiment Turns
The protest gained momentum following a June 13 post by the Economic and Financial Crimes Commission (EFCC) announcing Jesam’s arraignment. However, the EFCC post triggered an unexpected twist: over 1,000 of the 1,033 public comments on Instagram stood in defense of Jesam Michael. The overwhelming consensus online was clear—many Nigerians believe he’s being wrongly punished while the actual perpetrator remains untouched.
Justice or Injustice?
The scene at the courthouse painted a picture of deep frustration, but also a united call for action. Protesters vowed to continue lawful demonstrations until the alleged thief is held accountable and investors’ funds are returned.
“This isn’t just about one man,” said protest coordinator Tina Adebayo. “It’s about trust in our justice system and the protection of innovation in Nigeria. Jesam Michael built something powerful. Abayomi destroyed it. Now, the system must correct this wrong.”
What’s Next?
With court proceedings underway and public interest surging, all eyes are now on the Nigerian judiciary, the EFCC, and law enforcement agencies. Will they heed the protesters’ call and go after Abayomi Oluwasesan with the same energy used against Jesam Michael?
For the thousands of Afriq Arbitrage investors demanding answers, one thing is clear: the fight is far from over.
📹 Watch the protest video:
📢 #JusticeForJesam #WhereIsThe87Million #AASInvestorsUnite #Crypto
Abayomi Segun Oluwasesan return $87m AAS Investors money you stole .
Abayomi Segun Oluwasesan confessed in the presence of the IG that he stole AAS investors money .
Jesam Michael the CEO afriq Arbitrage system is not a scammer and AAS platforms not a ponzi platform, A worker under the platform named Abayomi Oluwasesan strike and pulled out $87m from the system and put all the investors of AAS into this mess, The complaint have collaborated with the police to put Jesam Michael in their custody for some months,The police collaborated with the EFCC to put Jesam Michael in their custody for some months, The case is now before the court which is the only hope for a cormon man, Now the collaboration with the judiciary????????? But God forbid.
Justice must prevail. I believe that the supreme Court must do the needful. The evidence of Abayomi confessing to his crimes are out there. Pls EFCC NG should release Jasem Michael and go after Abayomi who is the real thief. Jasem Michael is the liberator of Tech in Nigeria therfore he should be allowed to fulfill his dreams. Pls free Jasem and Arrest Abayomi @EFCC. #Justice_For_Jasem
JESAM MICHAEL is a good and transparent man, he is innocent, Release him for us Spartans and go after the real thief Abayomi Segun Oluwasesan. We want justice for AGC, we want Justice for JESAM MICHAEL, we want justice for all the investors in AAS across the globe, free JESAM MICHAEL and go after Abayomi, he is the devil incarnate.
EFCC has buy wrong Market. And EFCC take note 📝. This case will Expose the Weakness of Nigeria 🇳🇬 EFCC Abayomi Segun Oluwasesan and his Family will never 👎🏿 know peace in their entire lives. Nigeria 🇳🇬 EFCC is Fake, Nigeria 🇳🇬 POLICE 👮♀️ IS FAKE, go and arrest the Criminal Thief and RELEASED THE INNOCENT MAN NOW. IF NOT NIGERIA 🇳🇬, where can this Happened? What a country Nigeria! Their time is up by God grace. Justice must surely prevail now. Abayomi has paid the EFCC and Abayomi has paid the Police that’s why they’re doing all this. The whole World 🗺️ 🌍 🌎 will know how this country call Nigeria 🇳🇬 EFCC scam and Fraud Innocent People. All because of Bribery from Abayomi.
While it’s unethical and illegal for a lawyer to knowingly tell a lie or fabricate false information against an organization.
AAS AFRIQUE ARBITRAGE SYSTEM
as an organization committed to integrity, transparency, and ethical conduct, we are deeply concerned by the recent false allegations made against us, by a kindergarten level paid lawyer.
We want to assure the public that these claims are baseless and unfounded. Our actions and practices have always been guided by honesty, fairness, and compliance with the law.
We take any allegations of misconduct seriously and are fully cooperating with any investigations to uncover the truth. We have nothing to hide, and we welcome scrutiny into our operations.
We urge the public to consider the credibility of the source making these allegations and to question the motives behind such false statements. It’s regrettable that individuals may seek to undermine our reputation through deceitful means, but we remain steadfast in our commitment to upholding our values and serving our community with integrity.
We will pursue all legal avenues available to us to defend our reputation and hold those responsible for spreading falsehoods and misinformation accountable.
We appreciate the continued support and trust of our stakeholders, and we remain dedicated to earning and maintaining that trust through our actions and transparency.”
This statement emphasizes the organization’s commitment to honesty and integrity while refuting the false allegations made by the lawyer. It encourages the public to critically evaluate the credibility of the claims and reaffirms the organization’s willingness to cooperate with investigations to uncover the truth. Additionally, it expresses confidence in the organization’s values and principles, reassuring stakeholders of its commitment to ethical conduct.
AAS AFRIQUE ARBITRAGE SYSTEM remains one of the fewest credible financial investment platforms in the world.
JUSTICE DENIED: HOW JESAM MICHAEL’S KINDNESS WAS TURNED AGAINST HIM
_A haunting story of abuse, romance, and a system many say has failed him._
Abuja – Nigeria
What started as a beacon of hope for thousands of cryptocurrency investors has now become a tale of betrayal, loss, and a troubling misuse of power. Jesam Michael, the respected founder and CEO of Afriq Arbitrage System Ltd, lies behind bars today, trapped in a heartbreaking web of deceit and alleged official conspiracy.
Just over a year ago, Jesam was celebrated as a rising star in Africa’s crypto space. His platform, Afriq Arbitrage, promised innovation and financial empowerment. But in a cruel twist of fate, shortly after its public launch, Jesam was struck by a life-threatening liver condition. With his health failing, he did what any responsible leader would he handed over control of the company to a man he deeply trusted: Abayomi Oluwasesan.
While Jesam fought for his life, what he didn’t know was that his most trusted staff was plotting behind his back. Believing that Jesam might never recover, Abayomi allegedly looted over $87 million of investors’ funds and disappeared. It was a betrayal that would shock not only Jesam, but thousands who had put their trust in his platform.
When Jesam recovered, weak but determined, he went straight to the Economic and Financial Crimes Commission (EFCC). The EFCC acted by placing a Post No Debit (PND) on Abayomi’s account, freezing over ₦400 million. But the case stalled. Desperate for justice, Jesam escalated the matter to Interpol, who eventually tracked down and arrested Abayomi.
A plea bargain followed. Some money and properties were returned, but much of the stolen wealth was reportedly locked away in a misplaced cold wallet, inaccessible even to law enforcement.
Abayomi agreed to recover the wallet after his release. When he failed to do so, he was rearrested and charged again with criminal theft.
Then came a twist that few could have predicted. During a police reshuffle, CSP Taiwo Oyewale was appointed head of the IGP’s Special Investigation Unit. While reviewing pending cases, she met Jesam, and what began as a formal interaction reportedly blossomed into a romantic relationship.
As someone new in Abuja, Taiwo accepted Jesam’s offer to stay in one of his guest houses. She moved in with her three children, and soon became a regular visitor in Jesam’s home. Their bond grew stronger. Jesam, still recovering from both illness and betrayal, found comfort in her presence.
But that relationship, too, would come at a cost.
Jesam allegedly helped Taiwo invest ₦108 million in cryptocurrency. But when the market dipped and losses followed, she reportedly demanded a full refund, despite the assets being held in her own wallet. Out of goodwill and love, Jesam returned the ₦108 million. Yet the coins were never returned.
Their relationship broke down further when Taiwo allegedly requested 30 plots of land properties recovered from Abayomi and located near the Dangote Refinery, saying it was for the IGP. Jesam, committed to protecting his investors, declined.
According to sources, this rejection led to a bitter fallout. Taiwo allegedly aligned with Abayomi, and together they set the stage for what would become one of the most shocking arrests of 2025.
On January 29, 2025, Jesam was arrested under suspicious circumstances. First detained at Maitama Police Station, he was later moved to the notorious SARS facility, known for its inhumane conditions. His arrest, many say, was based on false charges drawn up in retaliation.
Jesam’s lawyers moved swiftly, filing a fundamental human rights case against the police. And on February 18, 2025, Justice M.A. Madugu of the FCT High Court ruled in his favor, ordering his release and prohibiting the police from rearresting him without a court order.
The judgment was served to all parties, including the Inspector General of Police (IGP). But instead of obeying the court, the police allegedly transferred Jesam to the EFCC, a move seen by his legal team as an effort to sidestep contempt proceedings.
Further allegations surfaced during the course of his detention. A police officer, Lanre Fasassi, allegedly working under Taiwo’s instruction, was said to have underdeclared cash seized from Jesam during his airport arrest, leaving out $100 in official records.
Even more disturbing was a police press release that falsely linked Jesam to arms and drug trafficking, despite the fact that no weapons or illegal substances were found in his home during the search.
Today, Jesam Michael remains in detention. His health and reputation hanging in the balance. His story has shaken the cryptocurrency world and raised serious questions about abuse of office, conflict of interest, and the state of justice in Nigeria.
Thousands of investors are still waiting, unsure if their money will ever be recovered. Jesam’s family, friends, and legal team continue to fight not just for his freedom, but for the truth to be heard.
Jesam Michael’s journey is no longer just the story of a man. It has become the story of a system one that, many believe, failed the very man who once dared to build something great for others.
Mr. Jesam Michael is innocent Mr. Abayomi Oluwasesan is the one who stole money from the investors, Afriq Arbitrage System company. Please we investors of AAS are begging you to please release our CEO Jesam Michael for us and go after Mr Abayomi Oluwasesan, which is the real criminal who stole our company money to rich him self.
Justice on the CEO of AAS, you are a great and a dogged spartan, the entire community are behind you, we stand with you, because you have a large heart for the common Nigerians, what the government of Nigeria didn’t do, you use technology to achieve it. Certainly we all will smile at last in AAS community. Victory at last, the Lord will soon vindicate you my amiable CEO. BE STRONG, TOGETHER WE STAND UNITED.
Urgent Appeal to the President: Injustice Affecting Nigeria’s Image and Crypto Sector
Dear Sir,
I respectfully write to report the actions of certain government agencies that are damaging Nigeria’s image both locally and internationally. These actions are also indirectly affecting the reputation of the President, even though I strongly believe he is unaware of the situation.
Not long ago, through the Securities and Exchange Commission (SEC), the Nigerian Government officially approved the operation of cryptocurrency businesses in the country. This decision was made with the understanding that many Nigerians were already engaging in crypto transactions even before it was legalized.
One such company is Afriq Group of Companies, led by a trustworthy man named Jesam Michael Ubi. The company has been running legitimate cryptocurrency operations in Nigeria, with timely payments to investors. As an investor myself, I have witnessed no signs of fraud.
Unfortunately, a serious incident occurred. While the CEO, Jesam Michael, traveled abroad for medical treatment, he entrusted key responsibilities to a staff member named Oluwasesan Abayomi. Believing the CEO might not return, Abayomi allegedly diverted $87 million of investor funds — affecting both Nigerian and international investors.
Upon his recovery and return, Jesam Michael contacted Abayomi, who had already fled. Abayomi denied any wrongdoing. The CEO reported the matter to the EFCC, but no action was taken. He then escalated it to Interpol, which led to Abayomi’s arrest abroad and extradition to Nigeria. During custody, Abayomi reportedly confessed to the theft and promised to return the money. Some of the stolen funds were recovered through properties he had purchased.
However, despite being the victim, the CEO is now being detained by the EFCC and the Police, for reasons unknown to the general public and investors.
It is important to note that Abayomi has had previous court appearances and was even granted bail, while his wife remained in custody. The recent arrest of the CEO seems unjust and unclear, and that is why I am bringing this matter to your attention — or to that of the Honourable Minister of Digital Economy, Mr. Bosun Tijani.
Since the crypto system is now legal in Nigeria, actions like this can destroy President Tinubu’s efforts to grow and diversify the Nigerian economy. These events are now being cited internationally as evidence of Nigeria protecting wrongdoers while punishing innocent business leaders.
Please, I urge you to do all within your power to ensure justice is served, and the truth is made public.
I will also try to reach the Chief of Staff, Hon. Femi Gbajabiamila, on this matter.
Thank you for your continued service to the nation.
Attached below is a video showing Abayomi’s public apology and confession, where he promised to return the stolen $87 million.
https://www.facebook.com/share/v/1AqBEkMCCB/?mibextid=wwXIfr