by NIyi JACOBS
The Nigeria Labour Congress (NLC) has raised alarm over what it described as the Federal Government’s disregard for workers’ pension rights, warning that the continued non-constitution of the governing board of the National Pension Commission (PENCOM) exposes workers’ retirement savings to risks of mismanagement and political interference.
In a communique issued after its Central Working Committee (CWC) meeting on August 13, 2025, and signed by President Joe Ajaero, the NLC insisted that pension funds represent deferred wages and must be protected from government control or diversion.
The labour body argued that the absence of a PENCOM board—contrary to the Pension Reform Act—has created an “unlawful vacuum” that enables the government to singlehandedly superintend over trillions of naira in workers’ pension contributions without the statutory tripartite oversight required by law.
“The non-constitution of the Pension Commission (PENCOM) board in full compliance with the law has stripped workers and employers of their statutory role in supervising pension funds. This situation heightens the risk of mismanagement, abuse, and political interference,” the communique stated.
The NLC has given the Federal Government a seven-day ultimatum to constitute the PENCOM board and submit a comprehensive status report of the pension funds to labour. Failure to comply, the union warned, would result in decisive industrial action nationwide.
The CWC reaffirmed that pension funds are not government revenue but the hard-earned savings of Nigerian workers for their retirement security. It emphasized that tampering with or mismanaging such funds would constitute an assault on workers’ rights.
Beyond PENCOM, the Congress also criticized the alleged diversion of 40% of workers’ contributions from the Nigeria Social Insurance Trust Fund (NSITF) into national coffers, describing it as another example of the government’s disregard for workers’ social protection schemes.
As part of its resolutions, the NLC called on the government to respect the principle of tripartite governance in line with international labour standards, warning that workers would mobilize all legitimate means to resist any attempt to erode their pension and social protection rights.
