Countdown to Strike: Labour, PenCom Lock Horns Over Pension Funds
The Nigeria Labour Congress has warned of a nationwide strike if the Federal Government does not refund what it claims are billions of naira that were taken from workers' insurance premiums. Additionally, it required the government to appoint a replacement for the head of the nation's pension regulation commission within a week. The NLC accused the Federal Government of embezzling 40% of the Nigeria Social Insurance Trust Fund donations into the national treasury. The fund, which is funded by millions of workers' payroll deductions, is intended to safeguard them in the case of an accident or termination of employment.