The organized labour has faulted 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.

The former board was headed by Chinelo Anohu-Amazu as Director-General.

Labour argued that non-constitution of the board was 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.

He 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?”