The Nigeria Labour Congress has urged President Bola Ahmed Tinubu to cease excuses and inaugurate the board of the Pension Fee.
NLC disclosed this in an announcement by its president, Joe Ajaero, on Wednesday.
This comes amid experiences that Pencom and Tinubu’s authorities are but to inaugurate the board of Pencom.
Reacting, Ajaero, in an announcement, mentioned the non-constitution of the Pencom board confirmed an absence of transparency on the a part of the federal authorities underneath President Tinubu.
NLC insisted that the federal authorities has erred within the administration of staff’ pension funds.
“Maybe what Pencom failed to inform us are the particular steps taken by the Federal Authorities to deal with the difficulty of non-constitution and inauguration of the Pencom governing board for greater than 5 years.
“This aloofness goes to the guts of the dearth of transparency within the administration of pension funds. On the root of the disaster of transparency within the administration of pension funds in Nigeria is a dysfunctional governance structure stemming from the non-constitution of the pension governing board. If the administration of Pencom needs the general public to disregard this grave misnomer, the management of the NLC is not going to, no matter overflowing patronage.
“The Nigeria Labour Congress is totally conscious of its strident position in birthing and shaping the present pension system in Nigeria. We don’t want a tutorial on this. All we’d like is a dedication from the Federal Authorities that the labours of Nigerian staff by means of commerce unions to develop a virile contributory pension scheme aren’t derailed by the demons of poor accountability and oversight that destroyed the outdated outlined profit scheme. What’s so troublesome in constituting the board of PenCom?
“Having conceded with out humility that the federal government has gravely erred by administering staff’ funds with out working-class oversight by means of illustration within the PenCom governing board, the administration of PenCom ought to go above polemics of excuses and make investments its vitality in persuading the Federal Authorities to do the needful—represent the governing board of the Pension Fee with out additional delay?
“The Nigeria Labour Congress won’t ever shirk from its responsibility of holding the federal government to account on the administration of public belief, notably staff’ funds. It is just too harmful and gravely expensive to be silent when a democratic authorities obstructs consultant governance. “A sew in time saves 9,” NLC said.
This comes amid unofficial experiences that President Tinubu has appointed Opeyemi Agbaje as the brand new Chairman of the Nationwide Pension Fee (Pencom).
The NLC had threatened to embark on a strike over the non-constitution of the PenCom board and points associated to the diversion of the Nigeria Social Insurance coverage Belief Fund, NSITF.
