NDC STATEMENT ON COURT RULING. (PHOTO). #PRESS RELEASE.

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 NDC STATEMENT ON COURT RULING Our attention has been drawn to a ruling by the Federal High Court sitting in Lokoja this morning, wherein His Lordship, Honourable Justice Isah Dashen, gave a ruling on an application filed by an unregistered association known as Peace Movement Party. The public knows that by December 2025, the Nigeria Democratic Congress  as an association complained of INEC’s refusal to register us as a political party, whereupon we proceeded to the Federal High Court. The Federal High Court upheld our constitutional right to freedom of association under the Constitution and compelled INEC to register us, which INEC did. Since then, we have started political activities, embarked on the registration of members, held congresses from ward to national levels, held conventions, and concluded primaries to all offices following INEC’s timetable. We have been fully participating in all INEC activities without let or hindrance. NDC also fielded candidates, and fully pa...
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EFCC ARRAIGNS WOMAN FOR ALLEGED ILLEGAL CAPITAL MARKET OPERATION IN LAGOS. (PHOTO). #PRESS RELEASE

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 EFCC Arraigns Woman for Alleged Illegal Capital Market Operation in Lagos


The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC,  on Wednesday, May 28, 2025, arraigned one Oluwaseyi Hevleen Johnson before Justice D.I. Dipeolu of the Federal High Court sitting in Ikoyi, Lagos.


Johnson alongside her company, XY Connects Global Investments Limited, is facing a two-count charge bordering on operating collective investment schemes without a licence either from the Central Bank of Nigeria, CBN, or the Securities and Securities and Exchange Commission, SEC. 


One of the counts reads: "That you, OLUWASEYI HEVLEEN JOHNSON and XYCONNECTS GLOBAL INVESTMENT LIMITED, sometime in 2022 in Nigeria, within the Judicial Division of this Honourable court, being an alter ego and a company incorporated in Nigeria respectively, failed to obtain a valid licence from the Central Bank of Nigeria to carry on your business of Investment Management with Solomon Okedara and you thereby committed an offence contrary to Section 57 of the Banks and Other Financial Institutions Act 2020 and punishable under Sections 57(5) of the same Act.”


The defendant pleaded not guilty to the charges when they were read to her.  


In view of her plea, prosecution counsel, Abdulhamid L.Tukur, asked for a trial date. 


Counsel to the defendant informed the court of a pending bail application for the defendant and also prayed the court to move the same. 


In moving the application,  he prayed the court for leniency, stating that the defendant “is a first- time offender and a single mother with minor kids, the oldest being 16 and the youngest 9.“


The defence counsel further informed the court that the defendant had approached the court and that she had already started restituting the proceeds to the petitioner.


Justice Dipeolu, while granting bail to the defendant, held that “the bail application did not disclose genuine reasons for her bail to be granted. 


“However, in the interest of justice, bail is granted to the defendant in the sum of N1 million naira and a surety in like sum. The surety must be a responsible Nigerian with evidence of 3 years tax payment.”


The Judge adjourned the case till June 27, 2025 for the commencement of trial and also ordered the defendant to be remanded in the Nigerian Correctional Centre, Kirikiri, Lagos pending the fulfillment of the  bail conditions.

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