$87m Theft Case: AAS Investors Storm FCT High Court To Demand Justice As Jesam, Legal Team Clear The Air At Abayomi’s Hearing (Video)

The FCT High Court sitting in Jabi, Abuja has adjourned the arraignment of Abayomi Oluwasesan till May 2nd, 2024.

Although the matter was mentioned for hearing, the trial could not go on because of the absence of the Defendant (Abayomi). The prosecutor reported to the court that the prison officers couldn’t bring him because of the recent prison break at the Suleja correctional centre. He further submitted that proper arrangements are serious ongoing to secure his presence in court in the next adjourned date…

The Defendant Counsel moved a motion for the review of Abayomi bail application, which is subject to the discretion of the court that must be exercised judiciously.

Abayomi Segun Oluwasesan who allegedly committed the heinous crime of defrauding the leading global crypto space known as Afriq Arbitrage System has been Re-arrested alongside his wife and arraigned in FCT High court, Jabi in Abuja on March 28th, 2024.

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.

In the courtroom presided over by Justice Ms. Idris, both parties, including the defendants’ lawyer and the complainant lawyer Sidi Abdulrasheed, were present alongside individuals whose investments were affected by the alleged fraud at the Afriq Arbitrage Company.

During the session today, 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.

Upon hearing arguments from both sides, Justice Ms. Idris adjourned the case until May 2nd, 2024.

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.

Speaking to Jesam Micheal the CEO of Afriq Arbitrage Company’s (AAC) after the court proceedings, he clarified the wrong narratives by a session of the media propagated by one human rights group. 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 said even the defendant’s counsel admitted he stole the money when he said some properties have been returned to the company.

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 and speaking too much on the issue is tantamount to contempt of the court.

Meanwhile, several investors in their hundreds stormed the court to show solidarity to the company and its board of directors. They affirmed that the Afriq Arbitrage System is legit as they benefited immensely from it before the unfortunate saga involving Abayomi. They all chanted their demands for justice.

A GLANCE AT THE SPECTACULAR TRADITIONAL MARRIAGE OF CHIEF MICHAEL DURU EJIOGU’S DAUGHTER: ANARA’S TALK OF THE TOWN

BY
CHINEDU NSOFOR

In the vibrant Ancient kingdom of Anara, located in Isiala mbano LGA of Imo State, Chief Michael and Lolo Ijeoma Ejiogu celebrated an unforgettable event on April 27th, 2024. The occasion was the marriage of their daughter, Akudo Stephenia, to Dr. Frank Arinze. Chief Michael, a distinguished business magnate and real estate expert renowned for his leadership as the CEO of City Gate Group, orchestrated a traditional marriage ceremony that enchanted all attendees. Dr. Frank Arinze, hailing from the esteemed family of Elder Victor and Mrs. Jane Azikiwe of Onisha Town in Onisha North LGA, Anambra State, joined in this union, leaving a lasting impression on all fortunate enough to witness it.

The gathering was a convergence of dignitaries from various spheres of influence and affluence, a testament to Chief Duru’s esteemed standing in the community. Among the distinguished guests were luminaries such as the Former Governor of Imo State(Chief Ikedi Ohakim) ; Rt. Hon. Chike Olemgbe( Speaker of the Imo State Assembly) ; His Royal Highness Cletus Iluomuanya(Chairman of the Imo State Elders Council) ; Nze Chidi Chinasa Nwanerri( Former S.A. Special Duties to the Governor of Imo State) ; the esteemed celebrity businessman, Pascal Okechukwu (Cubana Chief Priest); and Chief Tony Chukwu, alongside His Excellency Uche Nwosu, Hon. Bar. Kingsley Ononuju(Former Commissioner for Commerce and Industry Imo State), among numerous other titans of industry and notable politicians from across the nation.

In the enchanting tale of Akudo Stephenia and Dr. Frank, their love blossomed like vines reaching for the sun, culminating in a marriage that exuded elegance and grace. Their union, akin to a masterpiece painted by destiny, gathered dignitaries of high esteem, each bearing witness to a love as timeless as the stars above. Amidst the festivities, the bride’s search for her groom amidst the crowd seemed to reflect a cosmic alignment, it seemed as though the universe itself whispered secrets of eternal love, weaving their destinies into a tapestry of joy and commitment.

The ceremony unfolded with the grand entrance of the groom, a moment charged with anticipation and jubilation. As the kola nut was ceremoniously broken, marking the sacred inception of their union, all eyes eagerly awaited the radiant arrival of the bride, an embodiment of grace and sophistication.

The festivities were further enriched by captivating musical performances by over three renowned artists, adding a melodious backdrop to the celebration. Chief Michael Duru, as the Onowu, holds the esteemed position of Traditional Prime Minister within the Anara Ancient kingdom. His residence, a very sophisticated Mansion, not only stands as a testament to his legacy but also serves as the official Palace of the Onowu of Anara. During the traditional marriage ceremony of his daughter, this grand abode was dedicated, marking not only a familial celebration but also a continuation of tradition and lineage within the kingdom. Through this dual purpose, Chief Duru’s dwelling embodies both personal significance and cultural heritage, symbolizing the intertwining of familial duty and regal responsibility.

Culinary delights adorned the event, with a plethora of sumptuous dishes that tantalized the taste buds of all attendees. From traditional delicacies like fried rice to an array of fruits including apples, pineapples, oranges, and garden eggs, guests were treated to a gastronomic extravaganza that showcased both local and international flavors. The meticulous attention to detail and commitment to excellence in hospitality left an indelible impression, ensuring that every guest departed with fond memories of the occasion.

Amidst the gathered throng of friends and well-wishers, prayers soared heavenward, carrying blessings for the couple’s journey ahead. Each heartfelt wish resonated like a gentle melody, enveloping them in a cocoon of love and support as they stepped into the boundless expanse of married life. May their days be filled with laughter, their nights warmed by the embrace of affection, and may their love endure, perennial and ever-blooming, under the nurturing glow of the sun.

Indeed, Chief Michael Duru Ejiogu’s daughter’s traditional marriage was not just a union of two souls but a celebration of heritage, culture, and community. It was a testament to the enduring values of love, unity, and generosity that bind us together as a society. As the echoes of laughter and joy reverberated throughout Anara, it was clear that this event would be remembered as a highlight in the annals of the town’s history, a cherished memory for generations to come.

Chinedu Nsofor is a Seasoned Technocrat, Media Guru/Consultant and writes from Owerri, Imo State.

Dangote cement export of clinker, cement increase by 87.2%

Management of Dangote Cement Plc has revealed that the company dispatched seven ships of clinker- from Nigeria to Ghana and Cameroon and that the export, for the first quarter of 2024 increased by 87.2 per cent at 264kt.

While the company commissioned 10 of the 17 Alternative Fuel Projects across the Group, the local demand for cement, in the same period under review in Nigeria increased significantly by 26.1 per cent to 4.6Mt and the overall group volume rose by 12.3 per cent to 7.0Mt, for the first quarter of 2024.

Chief Executive Officer, of Dangote Cement, Arvind Pathak, in his comments on the first quarter results, said: “During the quarter, we intensified our emphasis on exports, dispatching 7 ships from Nigeria to Ghana and Cameroon. As a result, our Nigerian exports surged by 87.2%, reflecting our commitment to expanding our presence in regional markets and capitalising on our export-to-import strategy.

We continue to prioritise innovation, cleaner energy transition, and cost leadership towards achieving our vision of transforming Africa and building a sustainable future”.

The company recorded a Group revenue of N817.4 billion, even as profit after tax inched, up by 2.9 percent to N112.7 billion. Earnings per share closed the quarter at N6.68 representing an increase of 3.7 percent. As part of its sustainability programme, Dangote Cement commissioned ten of the 17 Alternative Fuel Projects across the Group.

Chief Executive Officer, of Dangote Cement, Arvind Pathak, in his comments on the results, said, “Driven by an uptick in economic activities, our Nigerian operations witnessed a strong rebound, with volumes up 26.1 percent to 4.6Mt in the quarter. Similarly, our pan-Africa operations continued an upward trajectory, with volumes up 3.1 percent to 2.7Mt, buoyed by increased sales in Zambia and Congo. Despite elevated cost pressures, increased borrowing costs, and a further currency weakening, our first-quarter results reflect our commitment to navigating challenges effectively.”

He added, “Group revenue more than doubled to ₦817.4 billion, while Group EBITDA rose 66.6 percent to ₦309.5 billion. Profit After Tax was up 2.9 percent at ₦112.7 billion. These results underscore our ability to adapt and thrive in a dynamic business environment while delivering value to our stakeholders.

We continue to prioritise innovation, cleaner energy transition, and cost leadership towards achieving our vision of transforming Africa and building a sustainable future”.

Dangote Cement is Africa’s leading cement producer with 52.0Mta capacity across Africa. A fully integrated quarry-to-customer producer, Dangote Cement has a production capacity of 35.25Mta in Nigeria. Obajana plant in Kogi state, Nigeria, is the largest in Africa with 16.25Mta of capacity across five lines; Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta; Gboko plant in Benue state has 4Mta; and Okpella plant in Edo state has 3Mta.

Through recent investments, Dangote Cement has eliminated Nigeria’s dependence on imported cement and has transformed the nation into an exporter of cement serving neighbouring countries.

In addition, the company has operations in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (2.0Mta clinker grinding and import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.5Mta import), South Africa (2.8Mta), Tanzania (3.0Mta), Zambia (1.5Mta).