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Nigerian Army Confirms Raid On Imo Hideout Of ‘Unknown Gunmen’ Leader, Gentle De Yahoo, Kills Five, Including Deputy

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The Army said that during the operation, the troops surrounded Gentle’s building but came under fire from his fighters, who fired at the soldiers from the roof.

The Nigerian Army has confirmed that troops of the 34 Brigade, operating under the 82 Division in Owerri, Imo State, carried out a commando-style raid on the residence of a suspected criminal gang leader known as “Gentle De Yahoo,” in Aku, Ihube, Okigwe Local Government Area.

Reports circulating on social media and across news platforms on Tuesday indicated that the troops captured Gentle De Yahoo, a feared commander of the so-called “Unknown Gunmen” gang, which has been linked to violent attacks in Imo State and other parts of the South-East.

However, when SaharaReporters requested details of the incident, the Nigerian Army said that while troops raided Gentle’s house and killed his second-in-command (two IC), two female and two male fighters, the military has yet to confirm if Gentle himself was among those killed during the operation.

“Since the summary execution of some youths who were part of his gang, many people have been worried that why should we have this kind of individual on the loose taking lives and generally doing whatever pleased him.

“In the past, efforts have been made to capture him and bring him to justice this time around, the Nigerian Army, 34 Brigade based in Owerri, Imo State, under 82 Division, stormed his community in Aku, Ihube, a village in Okigwe Local Government Area that shares boundary with Abia and Anambra states,” the Army said.

According to the Army, the operation was carefully executed on foot to avoid detection.

“The soldiers went on foot and trekked for close to four hours. They didn’t want to use armoured vehicles like they did in the past. It was more like a commando mission,” the Army explained.

The Army said that during the operation, the troops surrounded Gentle’s building but came under fire from his fighters, who fired at the soldiers from the roof.

“They surrounded his house, went in and Gentle’s boys were firing from the ceiling and our troops returned fire.

“When they saw that the guys who were firing from the roof were not going to come down, the army had no choice but to set the building ablaze,” the Army said.

The raid led to multiple casualties among Gentle De Yahoo’s fighters.

“Once the building was set ablaze, two females and three males jumped out of the building and attempted to escape but the army opened fire but there were still three persons left on the roof who refused to come out.

“One of them was his two IC, who eventually jumped out and scaled the wall but the troops fired on him and they killed his two IC.

“The two females who were with them were also killed, as well as two males,” the Army said.

The Army said the troops recovered the corpses of two female and two male fighters, but could not yet confirm if one of the male fighters killed was the dreaded Gentle De Yahoo or not.

“At this time, what I can report is that the soldiers recovered those two corpses of the male fighters but they cannot confirm yet whether Gentle De Yahoo was one of the persons who were confirmed killed in the incident.

“But the villagers who have been under ceaseless harassment from him confirmed that his two IC (second-in-command) was dead, and they are still trying to confirm whether he is among the two other guys killed,” the Army clarified.

The Army stressed that while confirmation of Gentle De Yahoo’s death was still pending, the operation significantly weakened his gang.

“We just have to wait and get confirmation. We are in the process of confirming whether he is among those killed but there is no escape for him,” the Army said.

“We cannot say categorically at this time that he was killed or he found a way to escape. In the fullness of time, the true situation will be confirmed, and we will tell Nigerians the exact situation and confirm whether Gentle De Yahoo has been killed or not.”

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National Pension Commission (PenCom) changes price disclosure rule

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National Pension Commission (PenCom) has directed Pension Fund Administrators (PFAs) to discontinue the publication of daily unit prices for Retirement Savings Account (RSA) and Retiree Funds on their websites, replacing the requirement with a six-month disclosure of returns based on a three-year rolling average.

The directive was contained in a circular issued by the commission.

Under the new guideline, PFAs must stop implementing Section 2.0 (iv) of the Commission’s March 23, 2013 circular, which required them to display daily unit prices for the last seven days.

Instead, they are to publish on their websites the last six months’ rate of return — calculated as a 36-month compounded rolling average in line with the Circular for the Calculation and Reporting of Rate of Returns by Licensed Pension Fund Operators (LPFOs).

According to the commission, the rate of return must be clearly displayed on the homepage of each PFA’s website.

For instance, the six-month disclosure covering April to September 2025 would reflect the 36-month compounded returns ending in each of those months.

This has however raised transparency concerns in the pension industry.

The 2013 circular on Minimum Information to be displayed on PFA Websites formed part of PenCom’s transparency framework for the Contributory Pension Scheme.

The latest addendum modifies that requirement but does not remove PFAs’ obligation to disclose performance information.

Industry watchers say the development may reignite debate over the balance between long-term investment reporting and real-time transparency in Nigeria’s pension industry.

All enquiries on the addendum, the Commission said, should be directed to its Surveillance Department.

An industry analyst who does not want her name mentioned said the move could reduce contributors’ access to real-time performance data.

She said: “Daily unit prices allowed RSA holders to independently track short-term movements and detect fluctuations in fund valuation.

“With only a three-year rolling average now required, contributors will no longer see recent performance in isolation”, she noted.

The analyst added that while pension funds are long-term vehicles, removing daily disclosure raises concerns about information asymmetry.

“PFAs will still compute daily valuations internally. The issue is whether contributors should be denied access to data that already exists,” the analyst said.

However, another pension expert defended the directive, noting that pensions are structured for long-term accumulation and should be assessed over extended periods.

“A 36-month rolling average smooth’s out short-term volatility and provides a more accurate reflection of sustained performance,” the expert said, warning that excessive focus on daily fluctuations could encourage reactionary fund switching.

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Dollar rises in black market on Monday, traders quote new exchange rate

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Dollar edges higher against the naira in black market trading Dollar edges higher against the naira in black market trading

The United States dollar at the parallel market increased in value on Monday, Febuary 23 with traders quote at N1,375/$ as the new selling exchange rate.

The new rate is a slight depreciation for the naira when compared to N1,343 a dollar market closed on Friday, February 20, 2026.

Abdulahhi, a forex dealer, told Legit.ng that the new exchange rate follows renew demand in the market.

“I am currently selling dollars at N1,375/$1 and buying at N1,355/$1. The pound is trading at N1,845 to sell and N1,805 to buy, while the euro is also moving steadily in the market.

“It seems this week the dollar will return to over N1,400. I have been getting a lot of request.”

The fall of the naira comes as BDC operators continue to face difficulties in accessing dollars from commercial banks.

BDCs can get dollar

The apex bank had previously issued a circular allowing licensed BDCs to access foreign exchange through authorised dealers at the prevailing market rate.

Under the directive, each BDC is permitted to purchase up to $150,000 weekly, subject to Know Your Customer (KYC) requirements and due diligence checks, Punch reports.

Leadership reported that despite a policy announcement, some operators disclosed that no transactions have been completed under the new arrangement.

A BDC operator, who requested anonymity, said the directive remains largely unimplemented. According to him, the circular provides that disbursements will be made through settlement accounts, a provision that has raised operational concerns.

He questioned the feasibility of seamless, real-time transfers between domiciliary accounts across different banks, noting that such infrastructure may not yet be fully in place.

The operator added that while commercial banks appear supportive of the policy, many are still developing internal processes to align with the CBN’s directive.

He explained that BDCs are required to submit bid orders through their banks, which would then access the market on their behalf.

Naira in the official market

Meanwhile, in the Nigerian Foreign Exchange Market (NAFEM), the naira closed against the US dollar on Friday, February 20 at N1,346.32/$1 from N1,341.35/$1 a day earlier.

At the GTBank FX desk, the naira weakened by N7 against the dollar to quote N1,356/$1.

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