The Nigeria Labour Congress (NLC) has issued a seven-day ultimatum to the Federal Government, demanding the refund of billions of naira it claims were diverted from workers’ contributions to the Nigeria Social Insurance Trust Fund (NSITF). The union also called for the immediate constitution of a governing board for the National Pension Commission (PenCom), warning that failure to meet these demands would trigger a nationwide strike.
According to NLC President Joe Ajero, the government’s diversion of 40 per cent of workers’ contributions into the national treasury amounts to a violation of the NSITF Act and an assault on workers’ social protection rights. “Pension funds are deferred wages, not government revenue,” the NLC stated in a communiqué, stressing that any further interference would not be tolerated. The union further criticised the prolonged leadership vacuum at PenCom, which it said exposes workers’ retirement savings to political interference.
In response, PenCom insisted that no pension funds are missing and that contributions under the Contributory Pension Scheme remain safe and continue to grow through profitable investments. Spokesman Ibrahim Buwal clarified that the appointment of a governing board lies with the Federal Government, not the regulator. The Nigeria Employers’ Consultative Association (NECA) also weighed in, urging the government to respect the Pension Reform Act by reconstituting the PenCom board without further delay.
The NSITF, however, has remained largely silent on the matter. Emmanuel Ulayi, Manager of Actuaries, Planning and Research, told reporters there was “no official response yet” to the NLC’s ultimatum. Meanwhile, public concerns about pension management continue to mount, with state-level disputes such as the recent 72-hour ultimatum by Ogun labour unions over ₦82bn in unpaid pension arrears underscoring the growing crisis in Nigeria’s retirement system.
Beyond pension concerns, the NLC also dissolved its Edo State Council over alleged unethical practices and criticised federal policies it said worsened inflation, hunger, unemployment, and insecurity. It accused the government of attempting to claim ownership of the NLC national headquarters, intimidating unions through cyberattacks and media campaigns, and covertly seeking to amend the NSITF Act for full control of workers’ funds. The NLC vowed to resist these moves, stressing that the NSITF “belongs solely to the Nigerian working class.”