The Nigeria Labour Congress (NLC) has threatened a nationwide strike if the Federal Government fails to return what it describes as billions of naira allegedly diverted from workers’ insurance contributions.
The union also demanded that the government constitute the Governing Board of the National Pension Commission (PenCom) within a week.
In a communiqué issued on Thursday, NLC President Joe Ajero accused the government of diverting 40 per cent of contributions from the Nigeria Social Insurance Trust Fund (NSITF) into national coffers, in violation of the law.
The fund, financed through payroll deductions, is intended to provide support for workers in cases of injury or job loss.
“The (NLC) Central Working Committee expressed outrage at the ongoing assault on workers’ social protection rights through the Federal Government’s diversion of 40 per cent of workers’ contributions to the national coffers as revenue, in flagrant violation of the statutes establishing the NSITF,” Ajero said. “Pension funds are deferred wages, not government revenue.”
The union warned that further interference in the fund could trigger industrial action and criticised the absence of a PenCom board, saying it left billions in pension savings vulnerable to mismanagement and political interference.
The NLC demanded that the NSITF refund all diverted funds within seven working days, while PenCom must provide a full status report on pension assets and have its board constituted in the same timeframe.
Failure to comply, it warned, would endanger “industrial peace” and could lead to protests and strikes nationwide.
PenCom has rejected claims of missing funds. Its Head of Corporate Communications, Ibrahim Buwal, told The PUNCH that the board appointment was a Federal Government matter, not within the commission’s control.
He maintained that pension assets under the Contributory Pension Scheme (CPS) were “secure and continue to grow,” adding, “Nobody’s money is missing.
I can confirm there are no pension funds under the CPS that are missing.”
The Nigeria Employers’ Consultative Association (NECA) also called for immediate compliance with the Pension Reform Act by constituting PenCom’s board.
“Not constituting it is a violation of the Act,” NECA Director-General, Adewale-Smatt Oyerinde, said. “Employers and workers are the only stakeholders in the pension industry.
If both have called for the board, we trust the president will do the needful.”
The NSITF confirmed there was no official response yet to the NLC’s ultimatum.
Manager of Actuaries, Planning and Research, Emmanuel Ulayi, said, “No official response yet,” while Head of Corporate Affairs, Alexandra Mede, said she was hospitalised.
At the meeting, the NLC also dissolved its Edo State Council leadership over “unethical behaviour” and “anti-union conduct,” appointing a caretaker committee to oversee affairs until fresh elections are held.
Beyond pension matters, the NLC criticised government policies it said had worsened inflation, unemployment, hunger, insecurity, and the collapse of public services.
The union urged the adoption of a “people-centred development model” built on public ownership of strategic sectors, living wages, industrial revival, and robust social protection.
Ajero also accused the government of falsely claiming ownership of the NLC National Headquarters, which he said was purchased with workers’ contributions, and of attempting to amend the NSITF Act to take control of the fund.
“This represents a direct attack on workers’ rights, hard-earned resources, and the principle of tripartite governance enshrined in international labour standards,” the communiqué read, insisting that the NSITF “belongs solely to the Nigerian working class.”
