CICAN Nominates Lagos Security Trust Fund for 2026 Award
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.
The nomination recognises the Fund’s role in supporting law-enforcement agencies and strengthening Lagos State’s security framework under the administration of Governor Babajide Sanwo-Olu. CICAN said the award acknowledges the LSSTF’s contribution to creating a safer environment for residents, businesses and investors through security financing, operational equipment and capacity development.
Established by law in September 2007 by the Lagos State House of Assembly, the LSSTF is a public-private partnership created to help address security challenges in Africa’s largest megacity. The Fund works to bridge resource and logistics gaps faced by security agencies through voluntary donations, rather than government budget allocations.
The nomination was conveyed in a letter dated August 23, 2026, to the Fund’s Executive Secretary and Chief Executive Officer, Dr. Ayodele Ogunsan. It was signed by CICAN National Chairman Taiwo Ademola Hassan and Secretary General Olufemi Orioye.
CICAN said the Fund’s work under Dr. Ogunsan’s leadership has helped reinforce security agencies’ operational capacity and support efforts to maintain conditions for economic activity and sustainable development in Lagos.
The association noted that effective security is important to protecting lives and property, enabling businesses to operate and attracting investment. It said the LSSTF helps address funding and equipment gaps, strengthening agencies’ ability to respond to security challenges.
CICAN also commended the Fund’s financing model, which brings government and the private sector together to support security operations. According to the association, the approach shows how public-private partnerships can mobilise resources, provide essential equipment and improve the effectiveness of law-enforcement agencies.
As Nigeria’s commercial and industrial hub, Lagos depends on a stable environment for businesses to operate, expand and create jobs, CICAN said. It added that security has direct implications for investor confidence, business continuity, employment and the state’s economic growth.
The association also credited Dr. Ogunsan’s leadership with advancing the Fund’s mandate and strengthening its reputation as a model for security financing and development.
Appointed by the Governor of Lagos State, the LSSTF Executive Secretary/CEO leads the Fund’s administration and daily operations. The role includes implementing the strategic direction set by the Board of Trustees and the Governor’s vision for a safer Lagos, mobilising resources from government and the private sector, and overseeing the provision of logistics and equipment to security agencies.
The position also involves coordinating initiatives to enhance safety, inter-agency collaboration and crime prevention across the state.
CICAN said the nomination would recognise the Fund’s achievements while encouraging further innovation, collaboration and excellence in security management across Nigeria.
The award is scheduled to be presented to Dr. Ogunsan on behalf of the LSSTF at CICAN’s 2026 National Annual Workshop on Thursday, November 19, at Protea Hotel, Ikeja, Lagos. The workshop brings together stakeholders from commerce, industry, finance, banking, investment and the wider Nigerian economy.
CICAN said it expects the recognition to encourage the Fund’s management and staff to continue supporting security institutions and a safer business environment. The association congratulated Dr. Ogunsan and the LSSTF team, describing the nomination as recognition of the Fund’s contribution to security financing and development in Lagos State.
