•Recognises ES/CEO's LSSTF strategic funding, operational support to security agencies, contribution to business confidence
By Kayode Olopade
The Commerce and Industry Correspondents Association of Nigeria (CICAN) has nominated the Lagos State Security Trust Fund (LSSTF) for its Most Outstanding Security Trust Agency in Nigeria 2026 Award in recognition of its contributions to strengthening security architecture and supporting law-enforcement agencies in Lagos State under the leadership of the Governor of Lagos State, Mr Babajide Sanwo-Olu administration.
The award, according to the association, is designed to recognise the Agency’s role in promoting a safer environment for residents, businesses and investors through strategic security financing, provision of operational equipment and capacity development for security agencies.
The Lagos State Security Trust Fund (LSSTF) is a pioneering public-private partnership established by law in September 2007 by the Lagos State House of Assembly. Born out of the need to address critical security challenges in Africa’s largest megacity, the Fund was created to bridge the logistical and resource gaps faced by security agencies through sustainable, voluntary donations rather than government budget allocations.
The nomination was conveyed in a letter dated August 23, 2026, addressed to the Executive Secretary (ES) and Chief Executive Officer of the Fund, Dr. Ayodele Ogunsan, by CICAN's National Chairman, Taiwo Ademola Hassan, and Secretary General, Olufemi Orioye.
CICAN said the Agency’s contributions to security management under the leadership of Dr. Ogunsan have helped reinforce the operational capacity of security agencies and support efforts to maintain a secure environment for economic activities and sustainable development in Lagos State.
The association noted that a formidable security architecture is essential to the protection of lives and property, the smooth operation of businesses and the attraction of investments into the state.
It added that institutions such as the LSSTF play a critical role in bridging funding and equipment gaps faced by security agencies, thereby strengthening their capacity to respond to security challenges.
The association also commended the Agency’s security financing model, which promotes collaboration between the government and the private sector in addressing security needs.
According to CICAN, the model demonstrates how public-private partnerships can complement government efforts by mobilising resources for security operations, providing essential equipment and improving the effectiveness of law-enforcement agencies.
It explained that security remains a fundamental pillar of economic growth, particularly in Lagos, Nigeria's commercial and industrial hub, where businesses require a stable and secure environment to operate, expand and create employment.
CICAN stressed that improved security has direct implications for investor confidence, business continuity, job creation and the overall growth of the state's economy.
The association further acknowledged the leadership of Dr. Ogunsan, noting that his stewardship has been instrumental to the advancement of the Fund's mandate and its growing reputation as a model for security financing and development.
The Executive Secretary/CEO of LSSTF is appointed by the Governor of Lagos State. He serves as the chief administrative and executive head of the Fund and is responsible for its day-to-day management and operations. The Executive Secretary/CEO implements the strategic direction set by the Board of Trustees and the Governor’s vision for a safer Lagos.
He coordinates resource mobilization from government and the private sector, oversees the provision of logistics and equipment to security agencies, and drives initiatives aimed at enhancing safety, inter-agency collaboration, and crime prevention across the state.
The nomination, it said, would celebrate the achievements of the agency while encouraging further innovation, collaboration and excellence in security management across the country.
The award will be formally presented to Dr. Ogunsan on behalf of the LSSTF during CICAN's 2026 National Annual Workshop scheduled for Thursday, November 19, 2026, at Protea Hotel, Ikeja, Lagos.
The workshop is part of the association's annual engagement with stakeholders across commerce, industry, finance, banking, investment and the wider Nigerian economy.
CICAN expressed confidence that the recognition would encourage the Fund's management and staff to sustain their commitment to strengthening security institutions and supporting a safer business environment.
The association congratulates Dr. Ogunsan and the entire management and staff of the LSSTF in advance, describing the nomination as recognition of the Fund's contribution to security financing and economic development in Lagos State.
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