Inspector General of Police, Kayode Adeolu Egbetokun, Ph.D., NPM, has reinforced his commitment to justice and professionalism by directing a full refund for all investors of Afriq Arbitrage System Ltd. This decisive move underscores his zero tolerance for unprofessionalism and bias within the Nigeria Police Force. Sources confirm that the IGP has mandated complete reimbursement for affected investors, ensuring justice prevails.
To promote transparency, Egbetokun has instructed the involvement of the Securities and Exchange Commission to determine 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 investigate any legal infractions. Reports suggest that Afriq Arbitrage System may have engaged in money laundering, converting foreign currencies into cryptocurrency and concealing them in digital wallets.
This investigation marks a significant step in the Nigeria Police Force’s efforts to restore public trust and combat financial crime. Egbetokun, known for his integrity and professionalism, is determined to prove that the force operates with transparency and accountability. He has tasked the IGP Special Investigation Unit and the IGP Monitoring Unit with a thorough 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 renewed hope. The IGP’s stance is both 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 asset recovery process. Afriq Arbitrage System Ltd must now substantiate its claim of the $87 million figure if it wishes to retain credibility.
Egbetokun’s firm approach sends a clear message: accountability applies to all, regardless of influence or status. Investors can trust that justice will be served and their hard-earned money recovered. Under his leadership, the Nigeria Police Force remains steadfast in its commitment to eradicating financial crime and upholding public trust. This decisive action may prove to be a pivotal moment in reinforcing both national and international confidence in Nigeria’s law enforcement.
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