By Abolaji Adebayo
Lagos State Governor, Mr. Babajide Sanwo-Olu has approved the reconstitution of the Lagos State Employment Trust Fund (LSETF) and the Lagos State Security Trust Fund (LSSTF).
A statement signed by the Governor’s Chief Press Secretary, Mr. Gboyega Akosile explained that the new board appointments, which take immediate effect were necessitated by the vacancies in the two organisations.
LSETF was established by The Lagos State Employment Trust Fund Law 2016 to provide financial support to residents of Lagos State, to tackle unemployment through job and wealth creation.
The Lagos State Security Trust Fund (LSSTF) was established by a Law of the Lagos State House of Assembly in September 2007 as a direct response to the security challenges in the State. The establishment of the LSSTF became imperative after the State Governor received and reviewed the report of a high powered Security Committee which it established under the chairmanship of the former Inspector General of Police, to look into ways and means of combating the growing menace of violent crimes in the state and the seeming inability of the police and other security agencies to confront this challenge in spite of their best endeavors.
The objectives of the Fund, as contained by the Law establishing it, are to raise money through voluntary donations from government Ministries/Department/Agencies, private organizations and individuals. In other words, the Fund is strictly donor-funded and monies raised are used for the acquisition and deployment of security equipment and such human, material, and financial resources as shall be found necessary for the effective functioning of all security agencies operating in Lagos State.
The LSSTF law provides that some of the funds shall be reserved for the training and retraining of security personnel. One of the primary responsibilities of the Fund is the provision of operational and logistic support for the Rapid Response Squad (RRS).
The Board of Trustees of the Fund, though appointed by the Governor, are mainly (80%) from the private sector and operate independently of government.
The Governor appreciated the previous members of the two Boards for their meritorious and conscientious service to the State.
Sanwo-Olu charged the new members of the boards to improve on the achievements of their predecessors.
The new members, Sanwo-Olu said, were carefully chosen based on records of excellence in their chosen fields.
Membership of LSETF board is a four-year tenure.
The new boards’ compositions are as follows:
Lagos State Employment Trust Fund (LSETF)
Mrs Bola Adesola Chairman
Mr Sinai Bolade Daranijo Member
Mrs Tatiana Mousalli-Nouri Member
Mr Segun Ojelade Member
Ms Kofo Durosinmi-Etti Member
Mr Idris Olorunimbe Member
Mr Ronald Chagoury Jnr. Member
Mrs Abisoye Tejumola EXECUTIVE SECRETARY
Lagos State Security Trust Fund (LSSTF)
Mr Kehinde Durosinmi-Etti Chairman
Mr Ebenezer Onyeagwu Member
Mr Adesola Kareem Adeduntan Member
Mr Emeka Onwuka Member
Mr Tayo Akinmade Ayinde Member
Mr Bamgbose-Martins Member
Mr Oshodi-Glover (Rtd DIG) Member
Mr Yemi Idowu Member
Otunba Niyi Adewunmi Member
Mr Ayo Obisan Member
Hon. Dr Abdul Razaq Balogun EXECUTIVE SECRETARY