By Our Reporter
Tension rose earlier today at the FCT High Court, Jabi, Abuja, as a large group of investors from the Afriq Arbitrage System (AAS) staged a peaceful protest, demanding that Mr. Abayomi Oluwasesan be held accountable for allegedly stealing $87 million from the company.
Chanting with placards that read “Return Our $87 Million!” and “Abayomi Is the Thief!”, the protesters gathered at the court premises to express frustration over what they described as a lack of justice and accountability in the matter.
The investors say they are outraged that Abayomi Oluwasesan, who they allege diverted company funds, remains free and unbothered in Lagos, while the AAS founder and *CEO, Mr. Jesam Michael,* is currently incarcerated in Kuje Correctional Centre.
One of the protesting investors, *Mr. Albert Churchill,* who spoke on behalf of others, recounted how Mr. Jesam Michael, during a medical emergency, entrusted Abayomi with system access to continue running the platform in his absence.
“While our CEO was receiving medical treatment, he handed over the operations of AAS to Abayomi, giving him passwords and system codes to keep the business running,” Churchill said. “Instead, Abayomi used that access to lock the CEO out and disappeared with *$87 million* belonging to the company and its investors. That is why we are here to demand that Abayomi returns our money and is brought to justice.”
Mr Albert clarified that although investors also want the court to grant bail to Mr. Jesam Michael, the protest is to recover the stolen funds and expose Abayomi’s actions.
Another investor, Mr. Chibuzor, echoed similar concerns. He told the press that investors are not driven by emotion but by the facts of the case.
“Our CEO is in detention over a matter linked to the same funds that Abayomi admitted to taking. While under police investigation, he entered a plea bargain to return the money,” Chibuzor revealed. “He returned part of it, some cars and houses he bought with the money. But the main amount, which is still in crypto wallets he controls, has not been returned.”
He added, “It is unacceptable that someone who crippled a revolutionary blockchain platform is still walking free, while the man who built it and wanted to help people is in detention. The court must do justice. We want restitution. Abayomi must be brought to book.”
The protest also follows public reactions to a June 13, 2025 post by the Economic and Financial Crimes Commission (EFCC), which announced Mr. Jesam Michael’s arraignment. However, out of 1033 comments on EFCC’s Instagram post, over 1029 defended Jesam Michael, insisting he is not a scammer and demanding his release.
The overwhelming response from the public adds to the growing belief among many Nigerians that the true culprit in the Afriq Arbitrage saga is Abayomi Oluwasesan, not Jesam Michael.
The group vowed to continue pressing for accountability through legal and civil channels, calling on the judiciary, security agencies, and financial regulators to do the right thing.
As the case unfolds in court, Afriq Arbitrage investors are hopeful that justice will prevail, not just in the courtroom, but in the recovery of their funds and the restoration of public trust in blockchain-driven innovation in Nigeria.