Justice Denied: How Jesam Michael’s Kindness Was Turned Against Him

What began as a promising crypto venture turned into a real-life thriller of betrayal and alleged corruption. Jesam Michael, the embattled CEO of Afriq Arbitrage System Ltd., now finds himself behind bars—ensnared in a complex web woven from a series of shocking events dating back to 2023.

Shortly after launching his crypto trading platform to public acclaim, Michael’s health took a sudden downturn. Suffering from a critical liver condition, he handed over control of the platform to his trusted lieutenant, Abayomi Oluwasesan.

That trust would prove catastrophic.

With Jesam incapacitated, Abayomi reportedly assumed the worst—that his boss would never return. Acting on that belief, he allegedly looted over \$87 million in investors’ funds and vanished when news of Jesam’s recovery surfaced.

Jesam’s first port of call was the EFCC. They promptly placed a Post No Debit (PND) on Abayomi’s account, which held over ₦400,000,000.00 (Four Hundred Million Naira). But facing slow progress, Jesam escalated the matter to Interpol, which eventually led to Abayomi’s arrest. A plea bargain followed, with some properties and cash recovered. However, a significant portion of the stolen funds was allegedly hidden in a misplaced cold wallet.

As part of the plea deal, Abayomi was required to retrieve this wallet after his release. When he failed to do so, he was rearrested and charged with criminal theft.

Enter CSP Taiwo: Love, Power, and Alleged Manipulation

During a police restructuring, CSP Taiwo Oyewale became the new commander of the IGP Special Investigation Unit (SIU). While reviewing case files, she came into contact with Jesam—and what began as a professional interaction reportedly evolved into a romantic relationship.

Newly posted to Abuja, Taiwo learned that Jesam had renovated the new SIU office on the 1st floor of Force Headquarters. She requested accommodation, and Jesam offered her one of his guest houses. She moved in with her three children and reportedly became a regular visitor at Jesam’s home. The relationship, however, took a controversial turn.

Jesam allegedly assisted Taiwo in making a ₦108 million investment in crypto. When market conditions dipped and losses mounted, she reportedly demanded a full refund—despite the assets being stored in her personal wallet. Jesam transferred ₦108 million to CSP Taiwo’s naira account but never received the crypto assets in return.

Things escalated when Taiwo allegedly requested 30 plots of land—recovered from Abayomi and located near the Dangote Refinery—claiming it was for the IGP. Jesam declined, fearing it would compromise investors’ interests.

That decision, sources say, marked the beginning of his downfall.

The romance soured, and Taiwo allegedly turned on Jesam, aligning with Abayomi to exact revenge. Trumped-up charges were reportedly filed, leading to Jesam’s arrest on January 29, 2025.

Allegations of Abuse and Official Overreach

Following his arrest, Jesam was detained under strict conditions at Maitama Police Station, then transferred to the notorious SARS facility. His legal team fought back, filing a fundamental human rights suit against the police.

On February 18, 2025, Justice M.A. Madugu of the High Court of the FCT ruled in Jesam’s favor, ordering his release and restraining the police from re-arresting him without court approval. The order was duly served to all parties, including the Inspector General of Police (IGP).

Yet, the police allegedly ignored the ruling and instead transferred Jesam to the EFCC, seemingly to evade a contempt charge that had just been instituted.

Meanwhile, disturbing details emerged:

Police officer Abiodun Adekunle Fasasi, reportedly acting under Taiwo’s orders, allegedly underdeclared \$100 from the cash seized from Jesam during his airport arrest. Despite no evidence of drugs or arms being found during a search of his residence, the police issued a press statement falsely linking him to such crimes.

The EFCC Connection

Upon taking over the case, the EFCC granted Jesam bail late in the evening of February 25. Yet by the following morning, they had already obtained a remand order from a magistrate court to detain him for 14 more days—rendering the bail effectively meaningless.

Every two weeks, the remand order was renewed, and no effort was made to charge him in court.

As weeks turned into months, and with no formal charges filed, Jesam again approached the Federal High Court to enforce his fundamental human rights.

In response, the EFCC hastily drafted charges and filed them in an attempt to oppose his bail request in the rights enforcement case.

The trial of the substantive case has now begun—and according to legal observers, the weakness of the EFCC’s case is becoming increasingly apparent.

The Bigger Picture

This saga is more than just a personal downfall. It raises serious concerns about abuse of power, the intersection of personal relationships and official responsibilities, and the integrity of Nigeria’s justice system.

Jesam Michael’s legal team continues to fight for his release, while investors are watching closely—many still unsure whether they will ever recover their funds.