A storm of outrage swept through the FCT High Court in Jabi, Abuja, on Wednesday as hundreds of aggrieved investors of Afriq Arbitrage System (AAS) flooded the courthouse, demanding the prosecution of Abayomi Oluwasesan, whom they accuse of embezzling a staggering $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:
Abayomi Segun Oluwasesan confessed in the presence of the IG that he stole AAS investors money
Freedom for jesam Michael
Justice for AAS and AAS investors
Jesam Michael is innocent
Jesam Michael is not a thief, he not a scammer, he is not whatever negative the enemy ascribed him as but a God sent to humanity.
Whoever that knows EFCC, should tell them to release Jesam Michael and apprehend Abayomi Oluwasesan to vomit our money. We are suffering here. Detaining Jesam is actually hotting us the community of AAS the more. Efcc let our CEO go.
I am a Spartan from the Republic of Peru. It is regrettable that justice is not being served. I thought Nigeria was a modern country, but its system of government is on the rocks. How is it possible that they imprison an innocent man like Jesam Micheal, a brother of yours from Nigeria who seeks to help his people succeed with disciplined management in cryptographic investments. A visionary man who helps those most in need, transparent, and today he is incarcerated. I mean, for being a good person, for doing things well, why don’t they put him in jail? Regrettable,
many Peruvian investors, including the undersigned, have invested in AAS because it is a formal, genuine, and transparent company. CEO Jesam Michael is a visionary in strengthening the crypto economy in his country and around the world. THE REAL PERSON RESPONSIBLE FOR YOUR COMPANY AAS BEING IN TROUBLE is the criminal Abayomi Oluwasesan. This is the thief who stole 87 million, altering the system and breaching the accounts of partners around the world, withdrawing money to his personal account. Investigate and imprison this guy Abayomi, freedom for Jesam Michael.
Enough with the lies.
Enough with the lies.
Jesam Michael is firm and will not enter or commit corruption as Abayomi is most likely doing with investors’ money from Peru.
Let this case not go unpunished.
Jail for the thief Abayomi…
*_JESAM MICHAEL: A VICTIM OF INJUSTICE, NOT A CRIMINAL_*
_BY STAFF REPORTER_
14TH JUNE, 2025
THE ONGOING CASE INVOLVING JESAM MICHAEL, A YOUNG AND BRILLIANT NIGERIAN CRYPTO TRADER, HAS CONTINUED TO STIR PUBLIC OUTRAGE AS THE ECONOMIC AND FINANCIAL CRIMES COMMISSION (EFCC) APPEARS TO TWIST THE FACTS AGAINST HIM. JESAM, WHO INITIALLY REPORTED A THEFT OF $87 MILLION BY ABAYOMI OLUWASESAN, IS NOW BEING TREATED AS A SUSPECT INSTEAD OF THE COMPLAINANT.
JESAM MICHAEL REPORTED THAT ABAYOMI OLUWASESAN HIS FORMER STAFF MEMBER STOLE $87 MILLION FROM HIS COMPANY. RATHER THAN INVESTIGATE AND BRING THE ALLEGED THIEF TO JUSTICE, THE EFCC HAS INSTEAD TURNED ITS ATTENTION TO JESAM HIMSELF. THEY FALSELY CLAIMED THAT OVER 50,000 INVESTORS WERE AGAINST JESAM MICHAEL AND USED THAT AS A REASON TO DENY HIM BAIL. THIS CLAIM IS COMPLETELY UNTRUE.
FOR YEARS, JESAM HAS CONTINUED HIS BUSINESS PEACEFULLY. NO INVESTOR HAS RAISED ANY ALARM OR BROUGHT ANY LEGAL ACTION AGAINST HIM. THERE HAS BEEN NO PROTEST OR PUBLIC OUTCRY BY ANY INVESTOR. SO WHY IS THE EFCC USING FALSE NUMBERS AND TWISTED NARRATIVES TO HOLD HIM?
JESAM MICHAEL BEGAN FOREX TRADING IN 2008/2009 AND HAS BEEN CONSISTENTLY ACTIVE FOR 16 YEARS. HE REGISTERED HIS FIRST ACCOUNT WITH ALPARI.COM ON MAY 25, 2009, AND HAS BUILT A REPUTATION AS ONE OF THE MOST DISCIPLINED AND KNOWLEDGEABLE TRADERS IN THE FIELD.
UNFORTUNATELY, DUE TO IGNORANCE, THE EFCC HAS CLAIMED THAT THE MONEY IN JESAM’S GTBANK ACCOUNT HAS “NO SOURCE.” IN REALITY, THERE IS CLEAR AND VERIFIABLE EVIDENCE SHOWING THAT FUNDS WERE TRANSFERRED FROM FOREX TRADING PLATFORMS TO HIS BANK ACCOUNT. THESE RECORDS ARE AVAILABLE AND EASY TO TRACE. A SIMPLE INVESTIGATION WOULD REVEAL THE TRUTH.
JESAM IS WELL KNOWN FOR HAVING A SHARP MEMORY AND DEEP KNOWLEDGE OF CRYPTOCURRENCY AND FOREX. HE IS SEEN BY MANY AS A “WALKING MEMORY BANK” WHEN IT COMES TO DIGITAL FINANCE.
JESAM MICHAEL STARTED WITH NOTHING. HE CAME FROM A POOR BACKGROUND BUT WORKED HIS WAY UP THROUGH DEDICATION AND SMART TRADING. HE LEFT BEHIND LOW-LEVEL, SMALL-SCALE TRADING YEARS AGO AND EMBRACED A MORE SOPHISTICATED, PROFESSIONAL LIFESTYLE IN THE FINANCIAL SECTOR.
MANY OF HIS FOLLOWERS MET HIM IN 2010, 2013, AND 2017, BUT TOOK THEIR TIME, SOMETIMES OVER SIX YEARS TO STUDY HIS TRACK RECORD BEFORE GETTING CLOSE TO HIM IN 2021. SOME WERE QUIETLY OBSERVING HIS ACTIVITIES IN WHATSAPP GROUPS FOR MANY YEARS. HIS GROWTH WAS NEVER OVERNIGHT. IT WAS BUILT ON CONSISTENCY, TRANSPARENCY, AND INTEGRITY.
IT SEEMS THAT ABAYOMI, WHO LACKS JESAM’S SOLID BACKGROUND, HAS FED THE EFCC MISLEADING INFORMATION. HE ALLEGEDLY CLAIMED THAT JESAM IS FRONTING FOR POWERFUL PEOPLE, EVEN POLITICIANS, CAUSING THE EFCC TO DIG IN THE WRONG DIRECTION, HOPING TO FIND A CONNECTION THAT DOES NOT EXIST. IT’S A WILD GOOSE CHASE, DRIVEN BY SPECULATION AND NOT FACTS.
WHAT SURPRISES MANY IS HOW JESAM MICHAEL HAS ACHIEVED SO MUCH FROM HUMBLE BEGINNINGS. BUT INSTEAD OF CELEBRATING HIS JOURNEY, SOME INDIVIDUALS ARE CLEARLY UNCOMFORTABLE WITH HIS SUCCESS AND ARE DOING EVERYTHING TO PULL HIM DOWN.
DESPITE THE PRESSURE, JESAM IS DETERMINED TO PROVE HIS INNOCENCE. HIS TEAM HAS BEEN GOING THROUGH DOCUMENTS TO PREPARE FOR HIS DEFENSE, ENSURING THAT EVERY PIECE OF EVIDENCE IS READY TO COUNTER THE EFCC’S CLAIMS AND ESTABLISH THE TRUTH.
JESAM ALSO HAS RECORDS OF AWARDS AND RECOGNITIONS HE HAS RECEIVED AS A TRADER, AND THESE MATERIALS WILL BE USEFUL IN DEFENDING HIS CHARACTER AND ACHIEVEMENTS.
JESAM MICHAEL’S LIFE IS WELL DOCUMENTED. HE HAS KEPT DETAILED RECORDS OF HIS JOURNEY, AND THESE WILL HELP HIM CLEAR EVERY ACCUSATION. HE HAS SAID CLEARLY, “THIS IS THE LAST TIME I WILL GO THROUGH THIS. I’M GETTING OUT OF THIS ONCE AND FOR ALL.”
WHAT IS HAPPENING TO JESAM MICHAEL IS A CLEAR EXAMPLE OF INJUSTICE IN NIGERIA. WHERE A VICTIM IS MADE THE ACCUSED, AND THE REAL CRIMINALS GO FREE. IT IS TIME FOR EFCC AND OTHER AUTHORITIES TO STOP CHASING SHADOWS AND FOCUS ON THE TRUTH.
JESAM MICHAEL DESERVES JUSTICE. NOT BECAUSE HE IS POPULAR, BUT BECAUSE THE FACTS ARE ON HIS SIDE.
EFCC, why did you leave Abayome the the thief and you are holding Jesam Michael, the complainant rather in your custody?
Nigeria Police, we want to know why you are not interested in keeping Sbayomi the thief rather in your custody?
Finally, to SEC of Nigeria, fir how long will you keep the license of AGC?This is against best Practice.Awake SEC of Nigeria
Jesam Michael is One Very Honest & Transparent Person.
Jesam Michael Deserves Justice
I request the court to give the right verdict and grant bail to Jesam Michael.
🙏Give Justice to Jesam Michael 🙏
Release Jesam Michael for us, EFCC knows the game they’re playing with Abayomi and his conspirators but they will fail, how can you arrest a man that reported a criminal to you leaving the criminal to be using our money to fight against the innocent person before the eyes of everyone, the future of this country is crying for help, EFCC and Nigeria Police Force should desist from meddling with criminals like Abayomi to save their image from being tarnished.
Release Jesam Michael and free your selves from the impending storm and shame.
God bless Nigeria.
Abayomi is the real thief he has our money with and his moving freely while Mr Jesam Micheal is detained what a twist, what’s wrong with our judiciary should they be trusted the evidences are too much clear. Pls 🙏 let the court do you something asap.
JESAM MICHAEL is the man of the people, the hope of a common man, he is innocent of all the charges label against him, Abayomi Segun Oluwasesan is the real thief who stole 87 million dollars of our hard earn money that we ok invested, JESAM is innocent, I have follow him for almost three years and I can tell you that I learned a lot of positive things about him, he is the reason why I can’t fall victim to all those ponzi platform anymore, please am begging Nigerian judiciary system to things the right way and free the hope of the common man for us. #freejesammichael
It beats my imagination that in Nigeria the criminals are walking freely and living in affluence while the innocent ones are being persecuted and punished.
Abayomi Oluwasesan who openly confessed to his crimes (there are video evidences to that effect) is walking freely and spending the money he stole from the company he was employed to work for while the CEO, Jesam Michael is languishing in the hands of the EFCC.
We are calling on all people with conscience to prevail on the EFCC to let go of Jesam Michael and punish the criminal, Abayomi Oluwasesan. He should be made to pay every Kobo he stole from the company because investors are suffering.
We hope and pray that the EFCC will tow the path of honour and do the right thing. Free Jesam Michael because he is innocent of all the allegations leveled up against him.
EFCC must now be carefull for what they are doing ,it is true that they know JESAM MICHAEL is innocent but they are assuming as if they know nothing ,,but the truth is that the one who stole money in AAS is ABAYOM SEGUN OLUWASESAN that is real and he accepted to be the one did so ,,please and please EFCC we need freedom to our CEO is here to save people from povert which they suffered many years ago ,,my words to you EFCC and other people ,IF YOU KNOW YOU KNOW and never dark IN light
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.
JESCAM is a notorious fraudster who scammed investors across more than 120 countries. He lured people into depositing funds into AAS with false promises that their money was securely locked in a Binance liquidity pool—so secure, he claimed, that not even he as CEO could access it.
He claimed AAS was powered by a decentralized robotic system that traded crypto arbitrage, supposedly generating a 1.65% daily ROI. But in reality, no trading ever took place. It was a classic Ponzi scheme—robbing Peter to pay Paul—hence the need to freeze withdrawals.
JESCAM claimed to have locked investors funds in a binance liquidity pool so as to safeguard investors funds from theft and hackers and told investors that he as CEO does not have access to the liquidity pool.
Three months later, JESCAM spun an absurd tale: that a man named Mr. Abayomi—whom no investor had ever heard of—accessed the so-called locked binance liquidity pool and made 21 withdrawals totaling $87 million. He claimed he had handed over full control of AAS to this “trusted friend called abayomi” while he went for a liver transplant, even giving abayomi his fingerprint access, facial ID, and system passwords and also the biometrics of his wife to abayomi. The was the same binance liquidity pool Jescam told investors that he had no access to as the CEO.
To make matters worse, Binance publicly denied having any liquidity pool relationship with AAS.
To this day, JESCAM has failed to show any proof of the liver transplant or provide a single transaction hash for the alleged $87 million withdrawals. Blockchain doesn’t lie—yet he has no evidence to back up his claims.
Kudos to the Economic and Financial Crimes Commission (EFCC) for taking action and persecuting this evil scammer who scammed over 50,000 investors from 120, countries of the world.
EFCC Keep up the good work.