Workers Besiege National Assembly as Senate Holds Hearing on Social Security Trust Fund Bill

Hundreds of workers and artisans from both the public and private sectors on Monday thronged the National Assembly complex as the Senate conducted a public hearing on the “Nigeria Social Security Trust Fund Establishment Bill, 2025.”

The proposed legislation seeks to merge the Nigeria Social Insurance Trust Fund (NSITF) Act with the Employees’ Compensation Act (ECA) 2010 to enhance the management of employer and employee contributions. It also aims to restructure the NSITF, expand its mandate, and adjust contribution formulas.

Many workers, uneasy about certain provisions in the draft law, stormed the hearing venue to follow proceedings closely as the Senate Committee on Employment, Labour and Productivity took submissions from stakeholders. The bill is sponsored by Senator Cyril Fasuyi (Ekiti-North).

Declaring the session open, the Managing Director/CEO of NSITF, Mr. Oluwaseun Faleye, commended the Senate’s move to reform the country’s social security architecture. He said the bill would modernise Nigeria’s system and align it with global standards, including ILO Conventions 102 and 144.

Faleye explained that harmonising the two existing laws would end operational ambiguities that persisted after the Pension Reform Act reassigned pension-related responsibilities from the NSITF to PenCom.

“The consolidation of the two Acts into a single, coherent statute is timely, necessary, and commendable. It eliminates duplication, resolves conflicts, and strengthens the legal framework of the Fund,” he said.

He described the expansion of coverage to informal sector workers and the self-employed as a historic milestone for inclusive social protection.

However, Faleye flagged a key concern: the “misapplication” of the word ‘Board’ throughout the bill. According to him, the term was incorrectly used to refer to both oversight and day-to-day administration.

“The Board meets quarterly, while daily operations are under the Managing Director. The bill must distinguish clearly between the Governing Board as the oversight body, Management as administrators, and the Agency as the implementing institution,” he added, recommending that the draft adopt clearer definitions similar to those in the Federal Inland Revenue Service Act.

The Nigeria Labour Congress (NLC) and the Nigerian Employers Consultative Association (NECA) initially rejected the bill, arguing that it would weaken worker protections and tilt control towards government.

But during his presentation, NLC President, Comrade Joe Ajaero, softened the union’s position, clarifying that workers were not at the National Assembly to stage a protest.

“We are not here for ‘we no go gree’,” he said. “Since many other critical stakeholders have supported the bill, NLC is not hell-bent on opposing it. However, the grey areas we pointed out must be addressed.”

Minister of Labour and Employment, Alhaji Muhammadu Maigari Dingyadi, also commended the Senate for its initiative, urging lawmakers to ensure that the final version of the bill reflects stakeholders’ concerns and secures broad acceptance.