What started as a promising crypto enterprise became 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 fancy internet spun from a sequence of stunning occasions courting again to 2023.
Shortly after launching his crypto buying and selling platform to public acclaim, Michael’s well being took a sudden downturn. Affected by a vital liver situation, he handed over management of the platform to his trusted lieutenant, Abayomi Oluwasesan.
That belief would show catastrophic.
With Jesam incapacitated, Abayomi reportedly assumed the worst—that his boss would by no means return. Performing on that perception, he allegedly looted over $87 million in traders’ funds and vanished when information of Jesam’s restoration surfaced.
Jesam’s first port of name was the EFCC. They instantly positioned Abayomi’s account with over ₦400,000,000.00 (4 Hundred Million Naira) on put up no debit (PND). However dealing with gradual progress, he escalated the matter to Interpol, who finally arrested Abayomi. A plea discount adopted, with some properties and money returned. Nonetheless, a good portion of the stolen funds was allegedly hidden in a misplaced chilly pockets.
A part of the plea deal required Abayomi to retrieve this pockets post-release. When he failed to take action, he was rearrested and charged with prison theft.
Enter CSP Taiwo: Love, Energy, and Alleged Manipulation
Throughout police restructuring, CSP Taiwo Oyewale grew to become the brand new commander of the IGP Particular Investigation Unit (SIU). Whereas reviewing case information, she got here in touch with Jesam—and what began as skilled interplay rapidly advanced right into a romantic relationship.
Taiwo, newly posted to Abuja, upon listening to that Jesam had renovated the brand new SIU workplace on the first flooring, pressure headquarters, requested for lodging and Jesam provided one in every of his visitor homes. She moved in together with her three kids and reportedly grew to become an everyday customer at Jesam’s residence. The connection, nevertheless, took a controversial flip.
Jesam allegedly assisted Taiwo in making a ₦108 million funding in crypto. When market situations dipped and losses mounted, she reportedly demanded a full refund—regardless of the belongings being saved in her private pockets. Jesam transferred ₦108 million to CSP Taiwo’s naira account however by no means acquired the crypto cash in return.
Issues got here to a head when Taiwo allegedly requested for 30 plots from land—recovered from Abayomi and positioned close to the Dangote Refinery—claiming it was for the IGP. Jesam declined, fearing it might hurt traders’ pursuits.
That call, sources say, marked the start of his undoing.
The romance soured, and Taiwo reportedly turned on Jesam, aligning with Abayomi to precise revenge. Trumped-up costs had been drawn up, resulting in Jesam’s arrest on January twenty ninth, 2025.
Allegations of Abuse and Official Overreach
Following his arrest, Jesam was detained underneath tight management at Maitama Police Station, then transferred to the infamous SARS facility. His attorneys fought again, submitting a elementary human rights go well with towards the police.
On February 18, 2025, Justice M.A. Madugu of the Excessive Courtroom of the FCT dominated in Jesam’s favor, ordering his launch and restraining the police from re-arresting him with out courtroom approval. The courtroom’s order was served to all concerned, together with the IGP.
But the police allegedly ignored the courtroom and as a substitute handed Jesam over to the EFCC in an try to evade a contempt cost which had simply been instituted.
In the meantime, disturbing particulars emerged:
Police officer Abiodun Adekunle Fasasi, reportedly enlisted by Taiwo, allegedly underdeclared $100 from the money seized from Jesam throughout his airport arrest. Regardless of no proof of medicine or arms discovered throughout a search of his residence, the police issued a press assertion linking Jesam to such crimes.
