The Lagos State Governor Mr Babajide Sanwo-Olu has inaugurated the new board members for the Lagos State Security Trust Fund (LSSTF) and Lagos State Employment Trust Fund (LSETF).
The move, according to the Governor, is to actualise the State agenda of strengthening the Security and youth entrepreneurship programmes of the administration.
At a brief inauguration ceremony held at the State House in Ikeja, Governor Sanwo-Olu said the new boards would be supported to efficiently steer the affairs of the agencies and help the Government to change the State’s narrative in improving business and security.
The Governor explained that since the creation of the two agencies, it had received copious administrative support from the government thereby allowing it to provide security across the State.
Sanwo-Olu said his administration would deploy instruments of law and resources to sustain the template by investing more in programmes specifically targeted at security, job creation and youth unemployment.
“The Lagos State Security Trust Fund (LSSTF) and the Lagos State Employment Trust Fund (LSETF) were created at different times to address the two key challenges of insecurity and unemployment. The responsibilities of these two important bodies are inter-connected and mutually reinforcing. Their mandates are critical to ‘Making Lagos a 21st Century Economy’ as outlined in the pillars of the T.H.E.M.E.S agenda.”
“Today, Lagos has become safer and more secure because of the improved operational capacities of our security agencies. Individuals and corporate organisations have made this possible largely through the financial and material donations to the Lagos State Security Trust Fund. The effectiveness of these initiatives as a strategy to fight and prevent crime has been widely acknowledged, given its replication by other sub-national governments, and even at the national level,” he said.
Sanwo-Olu stressed that his government has so far deployed and adopted technology to prevent crime and criminality across the State since inception and would continue in that stride.
The Governor who reiterated his administration’s commitment to securing lives and businesses said that the State Executive Council had scaled up the allocation to the LSETF in 2020 revised 2020 Budget to make more funds available to the Micro, Small and Medium Enterprises (MSMEs), with the objective to support young people to finance their entrepreneurial skills and create jobs.
According to him “Our young people should be a priority in the design and implementation of the initiatives of both LSSTF and LSETF. The success in delivering on the mandates setting up these bodies will be determined in large part by how well we are able to take the attitudes and mindsets of the youth into consideration.”
He, however, urged members of the two boards to discharge their duties with a special focus on their mandates and charge them to surpass achievements of their predecessors.
The Governor particularly charged the LSETF to scale up its oversight on loan beneficiaries and help them build capacity to successfully manage their businesses on a trajectory of growth, especially in the period of Coronavirus (COVID-19) pandemic.
Vote of assurance
In his vote of assurance and on behalf of the newly inaugurated Board Members, Chairman Board of Trustees of the Lagos State Security Trust Fund, Mr Kehinde Durosinmi-Etti, highlighted the positive impact of the Fund since it’s the establishment and promised an improved structure to ensure adequate security of lives and property in the State.
Also speaking was the Chairman, Lagos State Employment Trust Fund, Mrs Bola Adesola, who thanked the Governor for the opportunity to serve, while promising to build on the achievements of their predecessor, particularly in the area of supporting Medium, Small and Microenterprises.
Other members of LSSTF Board are Chief of Staff to the Governor, Mr Tayo Ayinde, Commissioner for Special Duties, Engr Tayo Bamgbose-Martins, Managing Director of Guaranty Trust Bank (GT Bank), Mr Segun Agbaje, Managing Director of First Bank, Dr Adesola Adeduntan, Deputy Inspector General (DIG) of Police, Agboola Oshodi-Glover (rtd), Dr Ayo Ogunsan, Mr Ebenezer Onyeagwu, Otunba Niyi Adewunmi, Mr Emeka Onwuka and Dr Abdurrazaq Balogun, the Fund’s Executive Secretary.
Also, other members of LSETF include the Commissioner for Finance, Dr Rabiu Olowo, Commissioner for Wealth Creation, Hon. Yetunde Arobieke, Mr Idris Olorunnimbe, Ms Kofo Durosinmi-Etti, Mr Segun Ojelade, Mr Sinari Bolade Daranijo, Ms Tatiana Mousasalli-Nouri, Mr Donald Chagoury Jnr., and Mrs Abisoye Tejumola Bisoye, the Fund’s Executive Secretary.