$87m Theft: Investors of Afriq Arbitrage System Boos,Jeer At Abayomi, Remanded in Suleja Until Bail Perfection As Court Adjourns Till 14th ( Video)

The arraignment of Abayomi Oluwasesan over the lingering theft saga to the tune of $87m commenced today with the review of his bail conditions.

Abayomi Segun Oluwasesan who allegedly committed the heinous crime of defrauding the leading global crypto space known as Afriq Arbitrage System was arraigned alongside his wife at the FCT High court, Jabi in Abuja.

Earlier, the defendants’ lawyer appealed for leniency on the stringent bail condition on behalf of Abayomi OluwaSesan citing their prolonged detention and promising their availability for trial if granted bail. However, the complainant lawyer, Sidi Abdulrasheed, opposed the bail request, highlighting previous instances where the defendants had allegedly fled after being granted bail.

Responding to the bail review, the presiding judge, Ms. Idris insisted the earlier bail conditions remain valid with little modification. It would be recalled that the conditions initially given included provision of two sureties each with 500 million Naira, owning property in Maitama, and also two directors in the federal civil service. Additionally, the sureties must deposit the title documents of their properties in court. However, in his ruling today, he said the sureties should be owners of properties anywhere within the FCT and worth 400 million naira and above. He also reiterated that the two directors should be serving directors and the properties be valued by a licensed estate valuer registered with the federal government.

Thereafter, he adjourned the proceedings till 14th ,15th and 16th of May 2024 for speedy trials.

Speaking to Jesam Micheal, the CEO of Afriq Arbitrage System (AAS) after the court proceedings, he clarified the wrong narratives about the case. He said the appearance of Abayomi in court has justified the truth that he defrauded the company to the tune of $87m and that he has confessed to his crime. He narrated how Abayomi who was entrusted with the platform while he went for liver transplant tempered with the systems and defrauded the community of the staggering sum of $87m. He stated that all he is after is for him to refund the stolen funds.

Also, the complainant’s counsel, Barrister Obeten revealed that justice will be served at the court as the suspect has allegedly admitted to committing the crime.

Meanwhile, there was mild drama in court as thousands of investors stormed the court today, booed and jeered at Abayomi and his wife. Their anger was not unconnected to the fact that his actions gravely affected them and their means of livelihood.

It would be recalled that Abayomi and his wife were tracked to an estate in Lagos and brought back to Abuja on Sunday, March 24th, 2024 over the lingering financial scam to the tune of 87 million dollar and criminal activities he perpetrated against AAS and the CEO, Jesam Micheal.

The arraignment of Abayomi by the IG of police at the Federal High Court in Abuja witnessed a significant development on Thursday, March 28th, 2024, as the case involving the alleged theft of 87 million dollar by Abayomi OluwaSesan charged by the Inspector General of Police, Kayode Egbetokun, proceeded with significant deliberations.

The accused individuals were charged for purportedly accessing millions of subscribers’ investments at the Afriq Arbitrage Company’s online trading platform until October 9th, 2023.

Wema Bank Celebrates Remarkable Journey of 79 years

In a remarkable celebration of heritage and innov ation, Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT today announced a joint celebration marking Wema Bank’s 79th years and ALAT’s 7 years anniversaries. This significant celebration not only commemorates nearly eight decades of exceptional service and innovation in the Nigerian banking sector but also celebrates the bank’s seven years of digital excellence with ALAT.

Since its inception in 1945, Wema Bank has been at the forefront of financial innovation, constantly adapting to meet the evolving needs of its customers. Over the decades, the bank has evolved from a regional bank to a national bank, adapting continuously to meet the dynamic needs of its customers and establishing itself as a pillar of trust and reliability for millions of individuals and businesses across Nigeria.

According to the MD/CEO Wema Bank, Mr. Moruf Oseni, the bank’s evolution from being Nigeria’s oldest indigenous bank to being at the forefront of innovation, pioneering Africa’s first fully digital bank, ALAT, has been a true story of resilience and transformation.

“At 79, Wema Bank stand stronger than ever, and this achievement would not have been possible without the support of our customers and employees. We thank them for believing in the Wema vision, for entrusting their financial security to us, and for allowing us to contribute to their personal and professional aspirations. Their faith in us is deeply cherished, and we are honored to serve them.”

“As we mark our 79th year today, we reaffirm our commitment to empowering lives through innovation, and exceeding our customers expectations with unparalleled banking experiences tailored to their needs. Our pledge is to stand by our customers through every stage of life, offering enabling platforms to accelerate their growth and propel them to extraordinary heights.”

“While the past 79 years have been remarkable, we anticipate that the coming decades will be even more inspiring. With the partnership of our customers and employees, Wema Bank is poised to set new standards in financial services and redefine the future.” He concluded.

As part of the anniversary celebrations, Wema Bank and ALAT are rolling out a series of customer-focused activities designed to reward loyalty and enhance the customer experience. Throughout the anniversary month, customers will enjoy various promotions, including discounts on transactions, cash prizes, special loan offers and much more.

This anniversary is more than a celebration; it’s a reaffirmation of Wema Bank’s resilience and ongoing commitment to innovation and customer satisfaction in a competitive industry. Both Wema Bank and ALAT are poised for further growth, with strategic initiatives designed to enhance customer-centric services and expand the reach yearsw capability of digital banking solutions.

Federal Housing Authority goes digital
…As the MD/CEO flags off Digitalisation drive.

The Managing Director and Chief Executive, Federal Housing Authority, Hon Oyetunde Ojo, May 1st, 2024 flagged off the Authority’s digitization drive.
In a ceremony at FHA’s head office, the MD CEO noted that the digitalisation effort is the first phase of the organisation’s march towards being a fully digitized outfit. This phase he stated covers all the Authority’s internal operations. He stated that the next phase that would take off in the coming weeks would be the real time interface with the public: allottees, prospective customers and Stakeholders.

Describing the event as a significant milestone in the Authority’s history and corporate existence, Hon Ojo noted that it has become necessary for FHA to embrace digitalisation to stay competitive and relevant.

In his words, the MD said : ” in today’s rapidly evolving world, where technology continues to reshape industries and redefine how we operate, it has become imperative for us to embrace digitalisation to stay competitive, efficient and relevant.
The FHA Chief Executive noted that when his management resumed duties about two months ago, they found It unacceptable to lead the nation’s premier housing agency operating analogue in the this 21st century. He noted that their resolve and commitment to modernize and streamline the Authority’s operations, enhance service delivery, and ultimately serve the Stakeholders better, was the driving and motivating force behind them.
Hon Oyetunde Ojo also emphasized that the robust programmes of his management towards expanding the operations of the Authority has made it expedient to embrace digitalisation.
Citing FHA’S role in the Renewed Hope Agenda of President Bola Ahmed Tinubu (GCFR) on Housing, the commencement of the Authority’s Diaspora City initiative as some of the projects FHA is currently involved in, he pointed out that the enormity of the projects can only be supported by digitalisation.
According to him, “…it has become more pertinent now that FHA is in the fore front of Housing revolution in the country through President Bola Ahmed Tinubu’s Renewed Hope Agenda in Housing… the Authority is also getting set fir the take off of the Diaspora City initiative, meant to help our people living outside the country to gave befitting homes back home”
Continuing, he said that the enormous nature of these projects has made digitization of FHA more expedient.
” We are repositioning an FHA where people could stay in the confines of their homes and monitor their investments with us, buy houses, obtain any information the want, just by the click of a button”. He said.
The MD revealed that the coming months and years will witness series of digital initiatives that would be rolled out across the Authority. He declared, ” … from automating manual processes to digitizing records, implementing advanced analytics, and enhancing cybersecurity measures, our digitalisation efforts will touch every aspect of our organization”.
Hon Ojo encouraged the staff to embrace the changes that comes with digitalisation. ” As we embark on this journey, I encourage each and every one of you to embrace change, to be open to new ideas, and actively participate in our digital transformation. Together, we have the opportunity to shape the future of FHA and pave the way for a more innovative, efficient, resilient organization “. He said.