• Understudy activities of the fund
The Executive Chairman and the management staff of the Kogi State Security Trust Fund has paid a courtesy visit to the Lagos State Security Trust Fund to learn firsthand from the pioneer security funding agency.
LSSTF undoubtedly is the foremost and most successful Security Trust Fund in the country and have become a template for other states to copy in their bid to form security trust fund agencies. Trek Africa Newspaper can report that Delta State Security Trust Fund paid a similar visit to the LSSTF some weeks ago.
The LSSTF put together onsite training sessions on modalities for operating an effective Trust Fund and also arranged visitations to one of the beneficiaries of the Fund the LNSA (Lagos State Neighborhood Safety Agency) and a tour of a world-class, indigenous security equipment manufacturing company EPAIL (Equipment and Protective Applications International Limited). There was also a farewell dinner on the last day of their visit.
It was observed that even after 17 years of operation, LSSTF is still significant and effective, and as a result of its efforts, Lagos is the safest city in Nigeria. Because of the Fund’s track record of success, other Trust Funds are trying to emulate it.
Dr. Abdurrazaq Balogun, the Executive Secretary, expressed hope that the visit from the Kogi State Security Trust Fund would be beneficial and insightful towards a successful KSSTF. During the training, he emphasized that the Fund’s strongest feature remains its core values which is the acronym PART (Prudent, Accountability, Resourcefulness, and Trust). It also places major emphasis on maintenance, which is why its assets remain functional for upwards 12 years.
While comparing the Law establishing the KSSTF with that of LSSTF, the ES LSSTF highlighted a few sections of the Law which in his opinion may work contrary to the objectives of the KSSTF and other sections that LSSTF may benefit from KSSTF.
It was noted that the LSSTF deliberately maintains a lean workforce to ensure that the majority of resources raised are directed towards providing support to security agencies.
The success of the Fund can be attributed to the high caliber of individuals appointed by Mr. Governor as members of the Board of Trustees. These individuals are not only influential but accomplished in their various endeavors and view their role as an opportunity to give back to the State. They leverage on their positions and industry connections to reach out to colleagues and partners for contributions to sustain the activities of LSSTF.
There was a farewell ceremony to conclude the working visit by the KSSTF delegation, which included the presentation of a plaque to the Executive Chairman and his team members and certificates. There were also photo sessions.
In response the Executive Chairman of the Kogi State Security Trust Fund, thanked the Executive Secretary/CEO for the warm reception and Lagos hospitality. He noted that the training session was very informative and an eye opener to key areas of improvement for the KSSTF.
He was very thankful for the opportunity to visit a Nigerian indigenous security manufacturing company and the Lagos State Neighborhood Safety Agency (LNSA). He noted that he will return to Kogi State with what they have been able to learn and seek ways to implement some of these ideas in the short, medium and long term.
