Hundreds of workers and artisans covering both public and private sectors, stormed the National Assembly on Monday over the “Nigeria Social Security Trust Fund Establishment Bill 2025”, as the Senate held a public hearing on the new piece of legislation.

The bill seeks to harmonise the existing Nigeria Social Insurance Trust Fund (NSITF) Act and the Employees’ Compensation Act (ECA) 2010 for better management and execution of the contributions of both employers and employees to the Fund.

The proposed law, among others, will restructure the NSITF, expand its mandate, and alter the contribution formulae for workers and employers.

The majority of the employees, apparently not comfortable with some of the provisions of the bill, trooped to the venue of the hearing to monitor proceedings as the Senate Committee on Employment, Labour and Productivity conducted the hearing.

The bill was sponsored by Senator Cyril Fasuyi (Ekiti-North).

As the session opened, the Managing Director and Chief Executive Officer (CEO) of NSITF, Mr. Oluwaseun Faleye, calmed nerves, commending the Senate for taking the step to restructure the country’s social security administration.

He explained that the bill would modernise the security framework and bring it in line with international best practices, including the International Labour Organisation (ILO) Social Security (Minimum Standards) Convention, 1952 (No. 102), and the Tripartite Consultation Convention, 1976 (No. 144).

He noted that with a harmonised law in place, the operational ambiguities caused by the co-existence of the two previous organs, particularly after the Pension Reform Act transferred contributory pension functions from NSITF to the National Pension Commission (PenCOM), would be addressed.

Faleye stated, “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.

“The bill’s expansion of social security coverage to include informal sector workers and self-employed persons is a historic step towards inclusive protection for all categories of working Nigerians.”

However, he raised concerns over the “misapplication” of the term ‘Board’, throughout the provisions, warning that it was wrong to use the word to mean both governance, oversight, and day-to-day administrative functions.

The MD added, “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.”

The NSITF boss suggested that the proposed law should adopt clearer definitions like those used in the Federal Inland Revenue Service (FIRS) Act, where the roles of the board and that of the CEO are distinctly defined.

The Nigeria Labour Congress (NLC) and the Nigerian Employers Consultative Association (NECA) initially opposed the bill on the grounds that it would strip workers of protections and strengthen government control at their expense.

But, as more stakeholders made their submissions, the President of NLC, Comrade Joe Ajaero, who spoke for the union, later adjusted his stance, saying that the union and workers were not at the venue to protest but to make some recommendations.

“We are not here for we no go gree, we no gree”, he stated.

Ajaero went on, “Since many of the other critical stakeholders have supported the bill, NLC is not hellbent on opposing it. But the grey areas we identified during the presentation should be addressed by the committee.”

Also speaking, the Minister of Labour and Employment, Alhaji Muhammadu Maigari Dingyadi, applauded the Senate for the initiative with the bill, but advised it to come to a conclusion acceptable to the stakeholders. (Nigerian Tribune)