RismadarVoice Reporters,February 11, 2026
The Economic and Financial Crimes Commission (EFCC) has dismissed as “totally fabricated” reports suggesting pressure to compromise the high-profile fraud case against Jesam Michael, CEO of Afriq Arbitrage System (AAS) Limited.
The claim, carried by Sahara Reporters under the headline “EFCC Prosecutor Steps Down Amid Pressure To Compromise High-Profile Fraud Case Against International Fraudster Jesam Michael”, was described by the Commission as unprofessional and misleading.
In a statement, the EFCC clarified that Geraldine Ofulue, a prosecutor assigned to Michael’s case, voluntarily resigned from the Commission to pursue other engagements. To ensure continuity, another prosecutor, Emenike Mgbemele, was assigned to take over the proceedings.
The Commission stressed that Ofulue had conducted thorough investigations and prosecution work, presenting nine witnesses and numerous exhibits in court.
Mgbemele, it said, merely adopted the processes filed by Ofulue when opposing Michael’s fourth bail application, without adding or removing any content.
The EFCC questioned the basis for claims of pressure, noting:
“Who was pressuring Ofulue in this matter? Why would an officer’s resignation to pursue other engagements be construed as ‘stepping down’?”
The Commission reaffirmed its commitment to due process and transparency, highlighting that Jesam Michael and Afriq Arbitrage System defrauded more than 50,000 investors in a transnational Ponzi scheme.
It called for public support of its mandate and warned that it would take legal action against individuals or organizations engaging in blackmail or deliberate misrepresentation of its officers or operations.
