Pension

Labour faults FG’s non-reconstitution of PenCom board

ORGANIZED labour, weekend, berated the Federal Government for refusing to reconstitute the board of the National Pension Commission, PenCom, almost two years after the government sacked the former board, which had Mrs Chinelo Anohu-Amazu as Director-General.

Labour contended that non-constitution of the board is a threat to the over N7 trillion accumulated pension assets and the future of the contributory pension scheme.

Speaking in Lagos through a member of the National Executive Council, NEC, of Nigeria Labour Congress, NLC, and General Secretary of National Union of Textile, Garment and Tailoring Workers of Nigeria, NUTGTWN, Mr. Issa Aremu, labour said the non-constitution of the board of PenCom was completely unacceptable.

While calling on President Muhammadu Buhari to immediately reconstitute the board, Aremu, the Vice President of IndustriAll Global Union, African Region, said: “President Buhari has to quickly give priority to the proper constitution of the board of PenCom.

“It is unacceptable to the working people, the contributors to the scheme, that a critical labour market institution is without a board for almost two years.

“It is bad enough that the formal Director General was whimsically removed. Yet you appointed an acting Director General that has not been confirmed by the Senate.

“What happened to corporate governance? The acting DG is doing well to manage the scheme. But what can she do when the board is not in place?”

 

 

Source Vangard

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