TEAM LAGOS EMERGES TOP AT 23RD NATIONAL SPORTS FESTIVAL SOUTH WEST ELIMINATION. (PHOTOS). #PRESS RELEASE.

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 TEAM LAGOS EMERGES TOP AT 23RD NATIONAL SPORTS FESTIVAL SOUTH WEST ELIMINATION Lagos State athletes proved their dominance in the South West by edging out regional competitors and emerging top in the five team events contested at the elimination series qualifier for the 23rd National Sports Festival later this year in Enugu. The elimination series featured team events in volleyball, basketball, football, beach volleyball, and cricket in male and female categories. While the team clinched only the female football ticket by topping their group, they showed dominance in three other sports by winning both the male and female tickets. Team Lagos took first position in the volleyball male and female categories. The male team defeated their counterparts from Ondo in the finals by 25-18, 24-26, 25-20, and 25-20, while the female team defeated Team Oyo by 25-18, 22-25, 28-26, 16-25, and 15-8. The Osun basketball team fell to the superior firepower of the Team Lagos male team in their last ...
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POLICE ARRESTS CEO OF AAS, COMMENCES INVESTIGATION INTO FRAUD, FINANCIAL EXPLOITATION.(PHOTO). #PRESS RELEASE.

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 PRESS RELEASE


POLICE ARRESTS CEO OF AAS, COMMENCES INVESTIGATION INTO FRAUD, FINANCIAL EXPLOITATION. 


Dismisses Harassment Claims.


The Nigeria Police Force hereby announce the arrest of one Mr. Jesam Michael, the CEO of Afriq Arbitrage System (AAS), in connection with an ongoing fraud investigation following a report made earlier by Mr. Michael to the Inspector-General of Police (IGP) Special Investigation Unit (SIU), in which he alleged that he had been defrauded of the sum of USD 87 million by one Mr. Abayomi Segun Oluwasesan.


Upon the arrest of Mr. Oluwasesan, he admitted to the charges but contested the amount involved, asserting it was significantly lower than claimed by Mr. Michael. Notably, concerns have emerged regarding a subsequent forfeiture agreement between the parties, which led to the recovery of various assets from Mr. Oluwasesan. The suspicion arose from Mr. Michael's decision to transfer the recovered properties into his personal name rather than that of his company, raising serious questions about his motives.


In addition, numerous investors have reported their inability to withdraw their principal funds or the promised returns from AAS for over 18 months. This prompted a preliminary investigation into the operations of the company. Despite repeated requests from the Nigeria Police Force, Mr. Michael failed to provide verifiable medical records for the alleged operation he underwent, valid evidence of legitimate trading practices, and a viable repayment plan for the affected investors. His lack of credible evidence, especially concerning his claimed health issues, which he suggests hindered his ability to grant full system access, raised serious questions about his credibility and the integrity of AAS.


The Nigeria Police Force firmly dismisses Mr. Michael’s claims of harassment, asserting that the genuine victims are the many innocent and unsuspecting investors who placed their trust and money in the Afriq Arbitrage System, only to face continued uncertainty and financial distress. Mr. Jesam Michael was apprehended today by operatives of the IGP SIU, and a comprehensive interview concerning these allegations, particularly regarding how he and AAS have managed investors’ funds, is currently underway.


The Nigeria Police Force remains committed to serving the public interest, ensuring transparency and accountability throughout this investigation. The Force will continue to uphold our mandate, ensuring a thorough, unbiased investigation aimed at protecting innocent citizens from fraud and financial exploitation. The Force hereby encourages any victims or individuals with information pertaining to these matters to come forward and assist in the investigation. Collaboration is essential to achieving justice.


ACP OLUMUYIWA ADEJOBI, mnipr, mipra, fCAI

FORCE PUBLIC RELATIONS OFFICER

FORCE HEADQUARTERS,

ABUJA.


29TH JANUARY 2025.

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