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Awka Diocese clears air over eviction of tenants from disputed property

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The Catholic Diocese of Awka, Anambra State, has debunked and cleared the air over the reports and the claims that it directly evicted tenants from a disputed property in Awka, clarifying that the action was purely a court-ordered execution carried out by the state through the bailiff and not by the church.

Addressing journalists at a press conference at the Diocesan Headquarters in Awka, on Thursday, August 14, the Diocesan Chancellor and Secretary, Rev. Fr. Dr. Charles Ndubisi, said it became necessary to set the record straight in the face of what he described as “false narratives” trending on social media.

He explained that the property located at No. 27 Seaman Avenue/Secretariat Road, Awka, rightfully belongs to the Catholic Diocese of Awka, but, however, revealed that one Mr. Chidi Osakwe allegedly intruded into the property, took unlawful possession of it, and rented it out to tenants without the Diocese’s consent.

According to the Chancellor, the Diocese, in the spirit of civility, humanity and due process, initiated two separate court cases — one against Osakwe and another against the unknown tenants occupying the property illegally. He said both parties were duly served quit notices and, thereafter, a seven-day owner’s intention notice to vacate the premises.

“For record purposes, the intruder and unknown tenants occupying the property illegally, were served quit notice by the court. There were two suits, firstly against Mr. Chidi Osakwe. The second suit was against the unknown persons in the property. We were reliably informed by our legal unit that none of these persons complied with the notices,” he stated.

According to him, when the people failed to comply, the Diocese approached the court for an order of possession, in response to which judgment was delivered in the Diocese’s favour. He said, subsequently, the court issued an execution order, which the state’s bailiff carried out, and further emphasized that the eviction was executed by the state in line with the court’s order and not by the church.

His words: “…7 days owner’s intention notice meant to recover possession was served to both the intruder and unknown persons in the house. By this notice, they were given only 7 days to vacate the said apartment.

“At the expiration of the 7 days owner’s intention, the claim against Mr. Chidi Osakwe and those unknown persons was filed requesting the court to order for immediate possession of the property. The Court delivered judgment in favour of the rightful owner of the property.

“Finally, there was a court order for the execution of the judgment. The bailiff, based on that, enforced and executed the judgement.”

While hinting that Osakwe is currently facing criminal charges before the Awka Magistrate Court, the Diocesan Chancellor also expressed sympathy for occupants who were deceived into renting the property by Osakwe. He further revealed that some of the evicted tenants, having now known the rightful owners of the property, have approached the Diocese, signed tenancy agreements through its legal arm, and are now legitimate tenants. He also encouraged others in similar situations to come forward and regularize their tenancy with the Diocese.

“Our hands are wide open to welcome others who have not reached out to us and we encourage them to do so,” he stated, while also calling on those peddling “false narrative” on the social media about the Diocese to retrace their steps and embrace peace and dialogue.

Responding to questions from journalists, the Chancellor maintained that all the evicted tenants were fully aware of the dispute from the outset, having been served all legal notices and joined as parties in the court process. He dismissed claims that the church acted without due notice, reiterating that both the judicial and executive arms of government were involved in the enforcement.

Regarding the speculation that a priest of the Diocese, who was alleged to be the original owners of the disputed property before his demise, late Monsignor Martin Chukwubunna Ezeokoli, was not given a befitting burial, the Diocesan Chancellor dismissed that as “unfortunate” and “baseless.” According to him, the cleric, who opted to remain with the Awka Diocese after the creation of the Ekwulobia Diocese (where he hailed from by birth), was accorded a proper burial in line with Catholic tradition and the Diocese’s ethics.

On the controversy surrounding priestly vestments (soutanes) allegedly found at the property, Fr. Ndubisi confirmed that items belonging to the late cleric, which were in Osakwe’s possession, have been recovered and secured by the Diocese. He said the discovery further illustrated Osakwe’s level of “mischievousness.”

While reiterating his earlier call on those spreading false narratives on social media about the Diocese to desist and embrace peace and dialogue, the Chancellor further warned that the Diocese would take steps, within the law, to protect its image and property.

In a vote of thanks, the Deputy Chancellor, Rev. Fr. Chudi Aguinam, commended the media for attending the briefing and for their great role in the society, while also urging them to report the matter accurately to help dispel misinformation.

He further reiterated the Diocese’s commitment to transparency, resolving issue peacefully, and maintaining cordial relationships with the public.

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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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