The Nigeria Labour Congress (NLC) has issued a strong appeal to President Bola Ahmed Tinubu, urging his administration to promptly inaugurate the governing board for the National Pension Commission (PenCom).
In a statement released on Wednesday, NLC President Joe Ajaero expressed concern over reports that the board has not been constituted. He characterized the government's prolonged failure to establish the board for over five years as indicative of a lack of transparency in the handling of workers' pension funds.
Ajaero identified what he called a "dysfunctional governance architecture" as the central cause of the problem. He reaffirmed the NLC's foundational role in developing the nation's contributory pension system and pledged the union's continued vigilance in safeguarding workers' retirement savings.
The labour leader called on PenCom's management to prioritize convincing the government to form the board without further excuses, questioning what could be causing the delay.
This statement follows unconfirmed reports of a new chairman being appointed for PenCom. The NLC has previously warned of potential strike action over this issue, alongside other concerns related to worker welfare funds.
The union concluded by emphasizing the critical need for immediate action to ensure proper oversight and accountability, stating that further silence on the matter would be a dangerous and costly error.
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