James Ojo, Abuja
President of Nigeria Labour Congress (NLC), Ayuba Wabba, yesterday, raised the alarm over impending upsurge in the numbers of kidnapers and insurgents as security situation worsens.
Addressing the first meeting of the National Administrative Council of the union, he said the Federal Government was in dire need of assistance on how to address the challenges.
He said congress had decided to convene a national peace and security summit, where ideas on how to help the government would be proffered.
Wabba said the situation did not call for blame game but efforts should be geared to salvage the country.
He said it has become necessary for Labour to intervene because many workers have fallen victims of banditry and kidnapping, noting that over 700 teachers have died from attacks occasioned by insurgents.
Wabba said recent decision by the Federal Government to allow for the implementation of a regional security unit, codenamed Amotekun, in the South West region was a welcomed development
On the move to borrow N2 trillion from the pension fund, he asked Federal Government to shelve the idea as it would cripple the scheme.
“Government need to be reminded, that the contributory pension scheme which come into being in 2004 is fully funded by workers and employers and its privately managed by Pension Fund Administrators (PFAs). The funds are in the individual Retirement Savings Account (RSA) of beneficiaries.
“The main objective of the scheme is to ensure that after retirement every worker in public or private sector who had contributed to the scheme receives his/her retirement benefits as when due.
“It is important to stress that the N10 trillion pension fund is not warehoused in Pension commission which is the regulator, the Central Bank of Nigeria, the Pension Fund Administrator or the pension fund custodian. The fund is warehoused in the private individual Retirement Savings Accounts of contributors, who are workers and beneficiaries,” the NLC stated.
Reporting on the minimum wage, 16 states were yet to begin implementation, while 16 have commenced.