The President of the Nigeria Labour Congress, Joe Ajaero, has called on the National Pension Commission to enforce stricter penalties on employers who violate pension regulations in Nigeria.
He made this appeal on Thursday during a roundtable discussion between PenCom and NLC leadership, an event attended by Nairametrics.
Ajaero noted that the NLC continues to receive numerous complaints regarding the inefficiency of certain Pension Fund Administrators and the ongoing non-compliance of many employers in both the public and private sectors.
“We call for stronger and more decisive regulatory actions from PenCom. This should include publishing the names of non-compliant employers and imposing stiffer sanctions,” Ajaero said.
Ajaero praised PenCom’s Director-General, Ms. Omolola Oloworaran, and her management team for organizing the interactive session, describing it as a constructive move toward enhancing collaboration for the welfare of Nigerian workers.
He emphasized the need to tackle existing challenges within the Contributory Pension Scheme and to explore measures for improving its efficiency, accountability, and transparency.
The NLC President also voiced serious concern over the prolonged non-inauguration of PenCom’s full board, noting that although a chairman has been appointed, the lack of a complete board hampers governance, delays strategic decision-making, and weakens oversight.
He called on the Commission to liaise with the relevant government authorities to expedite the inauguration of the full board, stressing that this step is essential for ensuring transparency, accountability, and effective service delivery.
Ajaero also suggested establishing a standing committee made up of representatives from both the NLC and PenCom to proactively tackle emerging issues and act as a rapid-response mechanism for workers’ grievances.
“This will deepen our collaboration and enhance mutual understanding,” he added, stressing the need for stronger regulatory oversight and enforcement against pension defaulters.
In her remarks, PenCom DG Ms. Omolola Oloworaran reaffirmed that the Contributory Pension Scheme continues to be one of the most transformative social security reforms in Nigeria’s history.
“Despite its challenges, the CPS has restored confidence in the dignity of labour by ensuring that every Nigerian worker’s sweat translates into retirement security,” she said.
Oloworaran recognized the NLC’s ongoing advocacy for workers’ welfare, highlighting the important role labour unions have played in shaping Nigeria’s pension landscape through continuous collaboration with the Commission.
She encouraged the NLC to participate in constructive discussions on the Revised Regulation on the Investment of Pension Fund Assets and the proposed amendments to the Pension Reform Act 2014, which are currently under review by the National Assembly.
She stated that PenCom will continue to pursue strategies to enhance compliance with the Pension Reform Act among private-sector employers and state governments, while also addressing challenges related to benefits administration and timely payments.
The NLC’s renewed demands follow PenCom’s recent announcement of recovering ₦4.57 billion from defaulting employers between Q1 2024 and Q1 2025, highlighting the Commission’s commitment to protecting workers’ retirement savings under Nigeria’s Contributory Pension Scheme.
