Transition at LSSTF

The Lagos State Security Trust Fund (LSSTF) was one of the most significant initiatives of the administration of former Governor Babatunde Raji Fashola (SAN) in Lagos State. It is an initiative I have written extensively about and one I am very proud to be associated with – since 2011 I have served on the Board of Trustees of the Fund. The foundation of every other achievement credited to Fashola was the fact that through the instrumentality of the Security Trust Fund, he channelled resources to the security sector in Lagos State that kept Lagos safe and secure, and allowed the growth in commercial activity, infrastructure, human capital, taxation and internally generated revenue, entertainment and recreation that made Lagos the superstar sub-national economy in Nigeria and Africa. The significance of LSSTF is amplified by the fact that both Fashola and the institution were sufficiently credible that private individuals and institutions, especially the corporate sector, joined the government in this unique public-private partnership to provide for our collective security, raising over N12 billion in the eight years of the Fashola administration, and providing over 800 patrol vehicles, 30 armoured personnel carriers, thousands of guns and ammunition, and other resources to the security services in Lagos State.

There is an additional uniqueness to LSSTF – it probably qualifies to be described as the most harmonious and focused (quasi) public sector agency you could find in Nigeria. Under the chairmanship of Remi Makanjuola, chairman of Caverton Helicopters, and Fola Arthur-Worrey as CEO, LSSTF was remarkably focused with board members working in cohesion on the mandate of deploying valuable public and private sector donations in the most accountable and responsible manner towards the social good of a secure and safe Lagos State. I can assert with every sense of responsibility that under the leadership of these two extraordinary and committed gentlemen, there was NO corruption or self-seeking behaviour at LSSTF and the board went to very un-Nigerian extents in ensuring it operated on a very lean budget to ensure resources went to the core purpose of the Fund. The Fund established a rule that all administrative expenses should never exceed 5 percent of receipts and kept well within that target. Members of the board did not receive any remuneration and several board members waived the minimal board sitting allowances of N50,000.00 that were payable.

The efficient operating model LSSTF evolved was exceptional even benchmarked against private sector standards! We operated based on regular board meetings, but because security disbursements by their nature could not wait for the next board meeting, we also developed an ICT-based decision-making system that allowed decisions to be made within 48 hours based on analysis by the secretariat and on-line concurrences by board members. I mentioned that I was appointed to the LSSTF board in 2011 by ex-Governor Fashola and expected that along with the rest of the board, my term would elapse by November 2015. I was very surprised, if not shocked (!), that Governor Akinwunmi Ambode recently included me in a newly announced board of the Fund. May I publicly toast those exceptional individuals – Remi Makanjuola, Fola Arthur-Worrey and ex-DIG Waheed Kassim (a wise, honourable, distinguished police officer and gentleman whom we affectionately called “mentor-member”) who led the board from 2007 to 2015, and who, having served maximum tenures, have retired from the board. I must also acknowledge other former board members – Ebenezer Onyeagwu of Zenith Bank; Kehinde Durosinmi-Etti and Dr Abina who represented Skye Bank over the period; Bisi Onasanya of First Bank; Biyi Mabadeje and Gbolahan Lawal who represented Lagos State government between 2011 and 2015.

These gentlemen have served with exceptional merit and were duly honoured with a rare private reception by an appreciative Governor Ambode on November 17, 2015. A new set of members have replaced the retirees – distinguished insurance CEO and entrepreneur, Oye Hassan-Odukale has been nominated as the new chairman of LSSTF; bank CEOs Herbert Wigwe of Access Bank and Phillips Oduoza of UBA have joined the board along with real estate entrepreneur Yemi Idowu, ex-DIG Israel Ajao who brings a depth of security experience, while Gbolahan Lawal (also a former police officer and current Lagos State Housing Commissioner) and Professor Ademola Abbas (Commissioner for Wealth Creation and Employment) represent the state government. A new executive secretary, Mobolaji Razaq Balogun, takes over as executive secretary/CEO.

The challenge of sustaining and exceeding LSSTF’s success over the last eight years is one the new board has expressed commitment to meeting. The state government itself has risen to new security challenges in the state with a massive investment of almost N5 billion in purchasing 3 helicopters, 2 patrol boats, 100 motorcycles, 13 power bikes, 60 ford saloon cars, 55 ford rangers, 40 Toyota saloon cars, 10 Toyota land cruiser SUVs, 31 APCs and police uniforms and kits last Friday, November 27, 2015. That commitment represents a massive statement of intent that insecurity will not be allowed to take root in Lagos State! Governor Ambode has stated his determination to enhance security through deployment of technology, and duly launched a security monitoring drone at the event!

The Lagos State Security Trust Fund holds its 9^th Annual Town Hall Meeting on Security with Governor Ambode on Tuesday December 15, 2015. It will be another opportunity for the government and the citizens of Lagos State, particularly the corporate sector, to recommit to sustaining our investment in our common security.