The Nigeria Labour Congress (NLC) has once again called on the Federal Government to urgently constitute the governing boards of key labour market institutions, particularly the Pension Commission (PENCOM) and the Nigeria Social Insurance Trust Fund (NSITF).
In a statement signed by its President, Joe Ajaero, on Wednesday, the NLC stressed that the absence of these boards undermines transparency and accountability in the management of workers’ funds.
The Congress expressed dismay that, despite repeated appeals, the Federal Government has failed to constitute the PENCOM board for over five years.
Reacting to a recent press release by PENCOM management, the NLC dismissed the Commission’s response as “half-truths, furtive denials, and lame excuses,” insisting that it would not relent in its responsibility to safeguard the interests of Nigerian workers.
“The leadership of the Nigeria Labour Congress considers the response of PENCOM management to our call as unnecessarily dramatic,” the statement read. “What PENCOM has failed to disclose are the concrete steps taken by the Federal Government to end the prolonged non-constitution of its governing board.”
According to the NLC, the situation reflects a deeper governance problem, rooted in what it described as a “dysfunctional governance architecture” created by the absence of the PENCOM board. It argued that this vacuum compromises transparency in the handling of pension funds.
Reaffirming its role in shaping Nigeria’s contributory pension system, the NLC warned that the achievements of workers and trade unions in reforming pensions must not be eroded by “poor accountability and weak oversight”—the very problems that crippled the old defined benefits scheme.
“The government has gravely erred by administering workers’ funds without oversight from workers’ representatives on the governing board,” the NLC noted. “Instead of excuses, PENCOM should channel its efforts into persuading the Federal Government to immediately constitute its board.”
The Union vowed to continue holding government accountable, particularly on matters concerning the management of workers’ funds.
“It is too dangerous and costly to remain silent when a democratic government obstructs representative governance. A stitch in time saves nine,” the statement concluded.
