Justice Denied: How Jesam Michael’s Kindness Led to His Imprisonment

What began as a promising blockchain venture has spiraled into a troubling tale of betrayal, manipulation, and alleged abuse of power. Jesam Michael, CEO of Afriq Arbitrage System Ltd., now finds himself behind bars—caught in a storm of financial mismanagement, romantic entanglements, and judicial controversy that began in 2023.

A Trust Betrayed

Shortly after launching his crypto trading platform, Jesam Michael suffered a serious liver ailment and temporarily stepped back from operations. During his recovery, he entrusted the company’s management to a close associate, Abayomi Oluwasesan.

That decision would prove costly.

Believing Jesam might not return, Abayomi allegedly siphoned over $87 million in investors’ funds and disappeared as soon as news broke of Jesam’s recovery. Jesam promptly reported the incident to the Economic and Financial Crimes Commission (EFCC), which froze Abayomi’s account containing over ₦400 million. When progress stalled, he escalated the matter to Interpol, leading to Abayomi’s arrest.

A plea bargain saw some assets recovered. However, a substantial portion of the funds allegedly remained inaccessible, locked in a missing cold wallet. Abayomi failed to retrieve the wallet as agreed and was subsequently rearrested and charged with criminal theft.

CSP Taiwo: Love, Influence, and Alleged Misconduct

The story took a more complicated turn with the arrival of CSP Taiwo Oyewale, who assumed command of the IGP Special Investigation Unit during a police reshuffle. While reviewing pending cases, she encountered Jesam, and what began as a professional relationship soon grew personal.

According to multiple sources, CSP Taiwo moved into one of Jesam’s guest houses with her children after he had renovated the SIU office at Force Headquarters. Jesam allegedly also helped her invest ₦108 million in cryptocurrency, but when the market dipped, Taiwo reportedly demanded a full refund, despite the assets being held in her wallet. Jesam transferred the sum to her naira account but never recovered the crypto coins.

Things escalated when CSP Taiwo allegedly requested 30 plots of land—part of the assets recovered from Abayomi—claiming they were meant for the Inspector General of Police. Jesam declined, citing the need to protect investors’ interests.

This refusal reportedly marked a turning point in their relationship.

Sources claim Taiwo then aligned with Abayomi, and in January 2025, Jesam was arrested on what his legal team calls “trumped-up charges.”

Allegations of Abuse and Judicial Irregularities

Jesam was initially detained at the Maitama Police Station before being moved to the SARS facility under tight security. His legal counsel responded by filing a fundamental human rights suit. On February 18, 2025, Justice M.A. Madugu of the High Court of the FCT ruled in Jesam’s favor, ordering his release and restricting law enforcement from re-arresting him without judicial consent.

Despite the ruling, Jesam was allegedly handed over to the EFCC in an apparent move to avoid a contempt charge.

In another twist, Officer Lanre Fasasi, reportedly under CSP Taiwo’s direction, allegedly under-declared $100 seized from Jesam during his arrest. Although no arms or drugs were found in Jesam’s home, police issued a press release attempting to link him to such crimes.

The EFCC and Prolonged Detention

Upon taking over the case, the EFCC initially granted Jesam bail on February 25. However, by the next morning, they had secured a magistrate’s remand order for 14 days—rendering the bail ineffective. This remand was renewed every two weeks, without formally charging Jesam to court.

As weeks turned into months, Jesam once again approached the Federal High Court, seeking enforcement of his fundamental rights. In response, the EFCC hastily filed charges to justify his detention and oppose bail.

The substantive case has now commenced, but observers claim the charges appear weak and lack credibility.

A Larger Reflection

This ongoing saga transcends one man’s misfortune. It raises critical questions about the misuse of public office, the risks of blurred boundaries between personal relationships and professional responsibilities, and the state of justice in Nigeria.

Jesam Michael’s legal battle continues, with investors anxiously watching—many uncertain if their funds will ever be recovered.