Several angry Afriq Arbitrage System (AAS) investors stormed the FCT High Court in Jabi, Abuja, on Wednesday to demand the prosecution of Abayomi Oluwasesan, whom they allege embezzled a whopping $87 million from the company.
The demonstration, which went viral online with clips showing placard-waving protesters chanting slogans like “Abayomi is a thief” and “Where Is Our $87 Million?” was a determined call for justice and the instant release of the embattled AAS founder and CEO, Mr. Jesam Michael, who is presently remanded in Kuje Correctional Centre.
The investors revealed that the real culprit of the financial crisis at AAS is not Jesam Michael, but rather his former associate, Abayomi Oluwasesan.
According to several protest leaders, Jesam handed over operational control to Abayomi while he was recovering from a sickness at the hospital, only for Abayomi to take undue advantage of the trust.
“He was given the keys to keep the business running, 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,” one of the emotional investors, Albert Churchill, said.
Another investor, Mr. Chibuzor, declared that even though Abayomi has returned some assets under a plea deal, the bulk of the money, still stuck in crypto wallets he fully controls, is yet to be recovered.
“This is not just about bail for Jesam. 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?” Chibuzor said.
After EFCC announced Jesam’s arraignment via their Instagram page on the 13th of June, 2023, more than 1,000 of the 1,033 public comments defended Jesam Michael passionately. The overwhelming support proved that several Nigerians believe Jesam is being wrongly punished while the real criminal is living freely.
The protest at the courthouse displayed a united frustration and call for action against the injustice, and the protesters promised to keep speaking up for the innocent Jesam until Abayomi is held accountable for his crimes and investors’ funds are returned.
“This isn’t just about one man. 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,” protest coordinator Tina Adebayo added.
With court proceedings ongoing and the anger of Nigerians increasing, it is now up to the Nigerian judiciary, the EFCC, and law enforcement agencies to decide on their next line of action. Will the cry of the protesters be heard? Will Jesam be freed? Will Abayomi be found guilty? For the many investors and citizens who are interested in this case, one thing is certain: we haven’t heard the last of it.
