By The Premier News
Despite being locked up at the Kuje Custodial Centre in Abuja over a multi-billion naira fraud, the Chief Executive Officer of Afriq Arbitrage System (AAS), Jesam Michael, has continued to wield influence and manipulate law enforcement officers to do his bidding.
Findings by Premier News reveal that the embattled crypto boss, who is standing trial for defrauding over 50,000 Nigerians through his illegal investment platform, allegedly bribed some senior officers of the Nigeria Police Force in Cross River State to ensure the detention of his former lawyer, Barrister Obeten Okoi, whom he accused of betrayal.
According to leaked audio recordings, Michael arranged the payment of N250,000 through a police legal officer identified as Barrister Victor Otu, purportedly to the Cross River State Commissioner of Police, Rashid Afegbua, to frustrate bail for Okoi. Sources close to the matter confirmed that Michael’s grouse with the lawyer was his suspicion that Okoi had leaked information about his fraudulent activities to security agencies, which eventually led to his arrest and prosecution.
In one of the leaked calls, a woman who introduced herself as a Department of State Services (DSS) personnel was heard confirming that she had spoken with a man she believed to be the Commissioner of Police in Calabar. According to her:
“I called him that evening… I introduced myself and I said, sir, I believe you are the CP Calabar. He said yes. I told him we would be coming the next day to pick the suspect. Please sir, don’t release him. He said yes, I will do that.”
Another audio leak captured a heated exchange with a man identified as Barrister Edet, who confronted the supposed CP and raised alarm that he had been deceived into parting with N250,000. In his words:
“Why will he use your name and number to collect money? I even went as far as giving him N250,000. What for? Why deceive us that you are the CP Cross River State? I am not going to leave any stone unturned.”
Jesam Michael is currently facing trial before Justice Obiora Egwuatu of the Federal High Court in Abuja, where he was arraigned on June 10, 2025, by the Economic and Financial Crimes Commission (EFCC) on seven counts bordering on fraud and illegal financial operations.
The EFCC accused him of collecting deposits from unsuspecting Nigerians between September 2022 and June 2023, while operating Afriq Arbitrage System without a license. Investigations revealed that he defrauded victims of $844,416.36, $10,000, and N590 million in the scheme, leaving thousands of families devastated. The trial judge noted that no fewer than 50,000 Nigerians were affected by the scam and ordered Michael’s remand in prison after denying him bail.
When contacted by Premier News, his former lawyer, Barrister Obeten Okoi, denied all allegations of fraud, insisting that he was only supervising a land transaction for Michael’s younger brother, Donatus Okoi. He said:
“Jesam is only blackmailing me because he suspects I gave information that led to his arrest. I never defrauded him. I supervised the purchase of land, investigated the title and drafted agreements. Later, it was discovered that the land size was miscalculated manually. The family later resolved the matter. I was never paid any money by Jesam to purchase land. He paid vendors directly. These voice notes only expose his evil plan to use the police against me.”
The revelations have sparked serious concerns about corruption within the police and the ease with which wealthy suspects in detention can still influence cases outside prison walls. A senior police source who spoke on condition of anonymity told Premier News:
“This case shows clearly the dangerous level of compromise. When a fraud suspect in custody can allegedly bribe officers to keep an innocent man behind bars, then the credibility of law enforcement is at stake.”
Beyond the police, the scandal also raises troubling questions about the credibility of the Nigerian Correctional Service itself. Critics argue that if a high-profile inmate at Kuje prison can freely make phone calls, coordinate bribery schemes, and influence investigations outside prison walls, then the integrity of the entire correctional system is in doubt. Security experts say this further erodes public trust in Nigeria’s justice system and reinforces perceptions that prison walls hold little power over wealthy and influential suspects.
While the EFCC continues its prosecution of Michael, pressure is mounting on the Inspector-General of Police, Kayode Egbetokun, to investigate the role of Barrister Victor Otu and other officers allegedly involved in the bribery scandal. Human rights advocates have also renewed calls for urgent reforms to break the culture of collusion between police officers, prison authorities, and wealthy suspects.
For now, Jesam Michael remains in custody at the Kuje Correctional Centre, but the controversy surrounding his continued reach beyond prison walls underscores the deep rot in Nigeria’s criminal justice system.
Link to video below: https://youtu.be/iYynndhv_WE?si=7HbRAi1w29xyd5eB
