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 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.
This was contained in a statement made available for journalists by the EFCC’s Head, Media & Publicity, Dele Oyewale, on Thursday.
