Nigeria Labour Congress ultimatum demands refund of diverted workers’ funds and PenCom board formation, or risk nationwide strike
Nigeria Labour Congress ultimatum to the Federal Government has escalated tensions over alleged diversion of workers’ contributions from the Nigeria Social Insurance Trust Fund (NSITF).
Also read: Labour to commence indefinite strike in Abia
The union has issued a seven-day deadline to reverse the move or face nationwide industrial action.
In a strongly worded communiqué, NLC President Joe Ajero described the diversion of 40% of NSITF contributions into national revenue as a “flagrant violation” of the statutes.
These funds, deducted directly from workers’ salaries, are legally designated for social protection in case of injury or unemployment—not to fill government coffers.
“Pension funds are deferred wages, not government revenue,” the union emphasized.
The NLC further demanded the immediate constitution of a governing board for the National Pension Commission (PenCom), citing growing risks of mismanagement due to a leadership vacuum.
The union insisted that both the refund of diverted funds and the PenCom board’s appointment must occur within seven working days.
Failing this, the NLC warned, industrial peace can no longer be guaranteed.
PenCom, NECA Respond
PenCom denied any wrongdoing, insisting that assets under the Contributory Pension Scheme (CPS) remain intact and well-managed.
“Nobody’s money is missing,” said Ibrahim Buwal, Head of Corporate Communications. “The safety of pension funds is confirmed by regular contributions and profitable investments.”
The Nigeria Employers’ Consultative Association (NECA) echoed the union’s concerns, urging the government to comply with the Pension Reform Act by reconstituting PenCom’s board.
NECA’s Director-General, Adewale-Smatt Oyerinde, stressed that employers and workers are the only true stakeholders in the pension sector.
“If the stakeholders have spoken, the president must do the needful,” he said.
NSITF and Political Fallout
The NSITF has not issued an official response, despite repeated media inquiries.
This silence has only fueled suspicion and unrest among labour groups.
The NLC’s meeting also saw the dissolution of its Edo State council due to alleged misconduct, as well as broader criticisms of government policies blamed for inflation, hunger, and economic stagnation.
The union rejected claims by the government over ownership of its national headquarters, calling it an intimidation tactic.
Ajero accused the administration of cyber and media attacks on trade unions and covertly attempting to amend the NSITF Act to consolidate control over workers’ funds.
“This is a direct attack on workers’ rights and resources,” the NLC warned.
What Happens Next?
With the deadline ticking, all eyes are on the Federal Government. If the NLC’s demands go unmet, the nation could face another round of disruptive strikes.
Also read: President Bola Tinubu urges Nigeria Labour Congress to avoid strikes
The outcome may not just shape the future of pension regulation—but also the strength of organised labour in Nigeria.
Source: Read more at theheute.com.ng
