Nigeria’s largest labour union has thrown down the gauntlet, accusing the government of raiding workers’ pension safety net — and warning of a nationwide shutdown if billions allegedly diverted aren’t returned in a week.
Zig Diaries Economy
Date: 15 August 2025
Time: 09:00 WAT
Location: 📍Abuja, Nigeria
The NLC says 40% of workers’ insurance contributions have been siphoned into state coffers, in what it calls a brazen assault on workers’ rights.
The Nigeria Labour Congress (NLC) has accused the
Federal Government of diverting 40% of workers’ contributions to the Nigeria
Social Insurance Trust Fund (NSITF) — money meant to protect employees in times
of injury, job loss, or emergency.
In a blistering statement, NLC President Joe Ajero
said the union’s Central Working Committee was “outraged” by what it called a
blatant breach of the NSITF Act. “Pension funds are deferred wages, not
government revenue,” Ajero warned, threatening a nationwide strike if the money
is not returned.
The demands are clear: refund the funds within seven
working days, appoint the long-overdue Governing Board of the National Pension
Commission (PenCom), and publish a full account of pension assets.
PenCom
Pushes Back
PenCom’s Head of Corporate Communications, Ibrahim Buwal, rejected the
allegations. He said the Contributory Pension Scheme remains “safe and growing”
through regular contributions and investments. “Nobody’s money is missing,” he
stressed, adding that contributors receive regular account statements.
Employers
Join the Call
The Nigeria Employers’ Consultative Association (NECA) backed labour’s demand
for governance reform. Director-General Adewale-Smatt Oyerinde urged the FG to
reconstitute PenCom’s board “in line with the law,” stressing that workers and
employers — the scheme’s only funders — deserve full representation.
NSITF
Silent
At NSITF, there was no official comment. Actuaries Manager Emmanuel Ulayi
confirmed no statement had been made. Corporate Affairs head Alexandra Mede
said she was hospitalised.
Beyond
Pensions
The NLC also dissolved its Edo State Council, citing “unethical conduct” and
breaches of the union’s constitution. A caretaker committee will run affairs
until fresh elections.
The communiqué went further, accusing
the government of deepening inflation, joblessness, hunger, and insecurity,
while stripping away public services. Labour also warned against a suspected
plot to amend the NSITF Act to give the state “full control” of workers’ funds
— calling it “a direct attack” on workers’ rights.
The union says it will mobilise
“every legitimate means” to defend the Nigerian working class.
Fact-Check & Background Context:
NLC alleges FG diverted 40% of NSITF funds into national treasury
PenCom says pension assets under CPS are secure
PenCom board remains vacant, in violation of Pension Reform Act
NECA backs call for board reconstitution
NSITF has not issued an official response
🏷️ Tags: Nigeria Labour Congress, Pension
Funds, NSITF, PenCom, Strike Threat, Workers’ Rights
#ZigDiariesEconomy #ZigDiariesLabour #Nigeria #WorkersRights
#PensionFunds #NLC
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