NLC Threatens Nationwide Strike Over Alleged Pension Fund Diversion

The Nigeria Labour Congress (NLC) has given the Federal Government seven days to refund what it claims is a 40% diversion of workers’ contributions from the Nigeria Social Insurance Trust Fund (NSITF) into the national treasury. The union also demanded the immediate constitution of the National Pension Commission’s (PenCom) Governing Board, warning that failure to act could trigger a nationwide strike.

NLC President, Joe Ajero, accused the government of violating the laws establishing the NSITF and undermining its role as a safety net for workers. “Pension funds are deferred wages, not government revenue,” the communiqué stated. The union also condemned delays in appointing PenCom’s board, saying the leadership vacuum heightens risks of mismanagement.

In response, PenCom maintained that funds under the Contributory Pension Scheme remain safe, citing steady asset growth and transparent account statements to contributors. It stressed that appointing a board is the Federal Government’s responsibility, not the regulator’s.

The Nigeria Employers’ Consultative Association (NECA) also urged the government to reconstitute PenCom’s board, describing the delay as a breach of the Pension Reform Act. The NSITF said it has no official response yet to the NLC ultimatum.

Beyond the pension dispute, the NLC criticised federal economic policies for worsening inflation, unemployment, and insecurity, while accusing the government of attempts to seize control of the NSITF through legal amendments. The union vowed to defend workers’ rights through all lawful means if its demands are not met.