Inspector General of Police, Kayode Adeolu Egbetokun, Ph.D., NPM, has reaffirmed his commitment to professionalism and justice by directing a full refund for all investors of Afriq Arbitrage System Ltd. This decision underscores his unwavering stance against unprofessionalism and bias within the Nigeria Police Force. According to sources close to the investigation, the IGP has mandated that every investor affected by Afriq Arbitrage System's operations must be reimbursed in full, ensuring justice is served.
To ensure transparency, Egbetokun has instructed the involvement of the Securities and Exchange Commission to assess whether Afriq Arbitrage System Ltd was legally licensed for financial services. Additionally, the Corporate Affairs Commission and the Federal Inland Revenue Service have been engaged to determine any legal infractions. Reports suggest that Afriq Arbitrage System may have facilitated money laundering, converting foreign currencies into cryptocurrency and concealing them in digital wallets.
This collaborative investigation marks a significant step in the Nigeria Police Force’s efforts to restore public trust and combat financial crime. The IGP, known for his integrity and professionalism, is committed to proving that the force operates with transparency and accountability. He has tasked the IGP Special Investigation Unit and the IGP Monitoring Unit with conducting a comprehensive probe into Jesam Michael, the alleged mastermind behind Afriq Arbitrage System Ltd, whose financial dealings have raised serious concerns.
For many investors who feared their funds were lost, this directive offers a beacon of hope. The IGP’s stance is legally sound and ethically driven, reinforcing the force’s mission to protect citizens from financial fraud. The next phase of the investigation will scrutinize the seized properties of Abayomi Segun Oluwasan and his alleged confession to embezzling $87 million. Authorities are set to reevaluate his statements, the legitimacy of the stolen sum, and the recovery process of his assets. The burden now lies on Afriq Arbitrage System Ltd to substantiate its claim of the $87 million figure if it wishes to retain any credibility.
Egbetokun’s resolute approach sends a clear message: accountability applies to all, regardless of influence or status. Investors can be assured that justice will prevail and their hard-earned money will be recovered. Under his leadership, the Nigeria Police Force demonstrates an unwavering dedication to eradicating financial crimes and upholding public trust. This decisive action under Egbetokun’s stewardship may prove to be a pivotal moment in strengthening both national and international confidence in Nigeria’s law enforcement.
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