The Nigeria Labour Congress, NLC, has given the Federal Government seven days to address what it calls a governance vacuum at the National Pension Commission and the diversion of workers’ funds from the Nigeria Social Insurance Trust Fund.
In a communiqué signed by its president, Joe Ajaero, the union’s Central Working Committee condemned the alleged diversion of 40% of workers’ contributions into government coffers, calling it a breach of the Nigeria Social Insurance Trust Fund, NSITF, laws. It also criticised attempts to amend the NSITF Act to give the state full control.
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The NLC demanded the immediate constitution of PENCOM’s board, the return of all diverted funds, and a full account of pension assets. It warned that failure to act within the deadline would see it withdraw any guarantee of industrial peace.
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