Afriq Arbitrage System (AAS), a prominent digital investment platform, has issued a firm rebuttal to what it describes as false and misleading reports circulating on social media regarding its Founder and CEO, Mr. Jesam Michael.
In an official statement on Tuesday, the company clarified that Mr. Michael has not committed any financial crime, contrary to rumors suggesting otherwise.
“We at Afriq Arbitrage System feel compelled to address and correct recent false narratives about our Founder and CEO, Mr. Jesam Michael,” the statement read.
According to the company, the individual responsible for the misappropriation of funds is Mr. Abayomi Oluwasesan, a former staff member. His misconduct allegedly caused operational disruptions within AAS in late 2023.
AAS further noted that in November 2023, Mr. Abayomi appeared in a publicly available video and a live “Ask Me Anything” (AMA) session with investors, during which he confessed to mishandling company funds and issued a full apology to the AAS community.
“Mr. Abayomi publicly admitted to his actions and took responsibility before our global investor audience. This remains a matter of public record,” the company emphasized.
Despite this confession, AAS expressed concern that certain individuals are now attempting to shift blame onto Mr. Michael, pushing a false narrative for personal gain.
“To be clear: Afriq Arbitrage System and Mr. Jesam Michael are the complainants in this case, not the accused,” the statement added.
The company said it was the party that formally reported the matter to the relevant authorities and has fully cooperated with ongoing investigations. It stressed that any suggestion of wrongdoing by Mr. Michael or the company is both unfounded and legally misleading.
AAS urged media outlets, social commentators, and the general public to rely on verified facts—such as official complaints, court records, and video evidence—rather than social media speculation or manipulated stories.
“We encourage everyone to focus on the available evidence: video confessions, written apologies, and formal reports, rather than one-sided accounts serving private interests,” the company stated.
Despite ongoing distractions, AAS reaffirmed its commitment to transparency, innovation, and restoring investor confidence.
“We are not distracted. Our mission remains unchanged—to serve our global investor community with integrity and value,” the company affirmed.
The company also extended gratitude to its loyal investors, stakeholders, and partners who have remained supportive during this challenging period.
“We deeply appreciate our supporters who stand with us in truth and progress,” the statement concluded.
I don’t know why Efcc is trying to twist the case. Listen to Abayomi confessing and apologizing. Is this not enough evidence for Efcc to know truly Abayomi Oluwasesan stole the money?
ReplyDeleteIf they have been given bribes, they will not pursue the offender again, but looking for faults of the opponent
DeleteA country or system did not corrupt its those in the system that are corrupt, Our security agencies are in the best position to make Nigeria a free corrupted nation, Putting the CEO of Afriq arbitrage system Jesam Michel in POLICE and EFCC custody for some months with the offense he did not commit is a sign of real corruption to the world, Now it's time to let the innocent man be free, Free Jesam Michel.
ReplyDeleteGet Abayomi arrest and release Jasem Michael we need just as AAS investors we are suffering because off the selfish of Abayomi by Stilling 87 million in AAS
ReplyDeleteUrgent Appeal to the President: Injustice Affecting Nigeria’s Image and Crypto Sector
ReplyDeleteDear 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
*🚨 Nigerian Judiciary & EFCC Abusing Power:*
ReplyDelete*Investors Speak Out on Jesam Michael’s Unlawful Detention 🚨*
As concerned investors in Afriq Group of Companies, we can no longer remain silent. The unlawful detention and ongoing persecution of Jesam Michael, the visionary CEO of Afriq Group, is a dangerous abuse of power by the EFCC and the Nigerian Judiciary.
*🔴 No Trial. No Justice. Just Intimidation.*
Jesam Michael has been held in custody for more than 5 months now, without proper trial, in defiance of Nigerian laws and international human rights. The EFCC, backed by a shockingly complicit judiciary, is using its power not for justice — but for punishment and intimidation.
*👇 What’s Really Happening:*
*🚫 Detained without due process* – denied bail, delayed hearings, and unlawful imprisonment.
*⚖️ Judiciary playing along* – bail rulings ignored, adjournments weaponized to prolong suffering.
*📰 Media trials* – Jesam's name smeared publicly while the courts remain silent.
*💼 Investor damage* – Afriq Group’s operations disrupted, investor confidence shaken.
*🧠 A clear message –* Nigeria is becoming a hostile environment for visionary African entrepreneurs.
*📢 We Raise Our Voice:*
This is NOT just about one man — it’s about a system failing the very people building Nigeria’s future. If it can happen to Jesam Michael, it can happen to any business leader.
*We demand:*
✅ His immediate release or a fair and speedy trial.
✅ An independent investigation into the EFCC and judicial handling of this case.
✅ Urgent reform of the Nigerian justice system before it kills business confidence completely.
💬 #JusticeForJesam #FreeJesamMichael #EndJudicialAbuse #ReformEFCC #ProtectEntrepreneurs #NigeriaInvestorsStandUp
🔁 Share this. Speak up. The time to act is now.
#FREEJESAMMICHAEL
ReplyDeleteJesam Micheal is innocent of all the allegations levelled against him. Abayomi Olusesan, a former staff betrayed the trust reposed on him while his boss went for medical treatment. He thought Jesam Micheal will not returned and he infiltrated the system carted away $87million hard earned investors funds. Abayomi Olusesan made a public confession of his evil actions. His actions made many went through untold hardship, many died, displaced and traumatized. We urge the Nigerian Police to Free Jesam Micheal and arrest Abayomi Olusesan the real Big Thief to refund the investors money. Justice for Jesam Micheal, let the truth prevail. The whole world is watching as this issue is beyond the borders of Nigeria. Investors are worldwide. EFCC and the Police should redeem their image.
ReplyDelete📢Jesam Michael the ponzi don & his telegram prison ponzi soldiers 📢
ReplyDeleteThey Scammed Us, Now They’re Gaslighting Us After destroying lives and wiping out people’s life savings through the AAS Ponzi scheme, Jesam Michael's Telegram admins are now doing the unthinkable, pretending they’re the victims. On Telegram and even on TV, they twist the story, spreading lies, rehearsed tears, and fake testimonies, all to make the court and the public believe Jesam’s fraud was a “genuine business.” They insult our pain. They downplay our loss. They want the world to forget the broken homes, lost dreams, and sleepless nights they caused. This isn’t just manipulation, it’s cruelty. While real victims suffer in silence, they put on a show to cover up their crimes. But no matter how hard they try to rewrite the story; the truth will speak louder.
(Amen)