President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, has raised strong concerns over the federal government’s prolonged delay in reconstituting the board of the National Pension Commission (PenCom), warning that the absence of a governing board undermines transparency and accountability in the management of workers’ retirement savings.
Speaking to journalists at the Annual General Meeting of TrustFund Pensions Limited in Abuja, Ajaero lamented that for nearly four years, PenCom has operated without a properly constituted board, despite legal provisions mandating representation from both labour and employers.
“The PenCom board is supposed to have institutional representation from labour and employers, since it is workers’ and employers’ contributions that make up the pension funds. But for years now, that board has not been inaugurated, and yet decisions are being made.
That raises questions about accountability,” he said.
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