NLC President, Joe Ajero, accused the government of diverting 40 per cent of Nigeria Social Insurance Trust Fund contributions into the national treasury.
The Nigeria Labour Congress has issued a seven-day ultimatum to the Federal Government to refund alleged diverted billions from workers’ insurance contributions or face a nationwide strike.
NLC President, Joe Ajero, accused the government of diverting 40 per cent of Nigeria Social Insurance Trust Fund contributions into the national treasury, calling it “a flagrant violation” of the law. “Pension funds are deferred wages, not government revenue,” the communiqué stated.
The union also demanded immediate constitution of the National Pension Commission’s Governing Board, warning of heightened mismanagement risks.
PenCom’s spokesman, Ibrahim Buwal, dismissed claims of missing funds, insisting the Contributory Pension Scheme remains secure. “Nobody’s money is missing,” he said.
The Nigeria Employers’ Consultative Association backed calls to constitute the PenCom board, stressing it was a legal requirement.
The NSITF has yet to respond officially to the NLC’s ultimatum.