The Nigeria Labour Congress (NLC) has threatened a nationwide strike if the Federal Government fails to return what it alleges are billions of naira taken from workers’ insurance contributions. The union also demanded that the government fill the leadership vacuum at the National Pension Commission (PenCom) within one week.
NLC accused the government of siphoning 40% of contributions from the Nigeria Social Insurance Trust Fund into the national treasury. However, PenCom insisted that the Contributory Pension Scheme remains secure and continues to grow.
The NLC further criticised the absence of a governing board at PenCom, warning that it leaves billions in retirement savings vulnerable to political interference.