The Executive Governor of Ogun State @OGSGofficial H.E Prince Dr. Dapo Abiodun – MFR inaugurated the new board of Trustees of the Ogun State Security Trust Fund (#OGSTF) on Saturday, August 24th 2019. Mr Bolaji Balogun, as its chairman and Mr Opeyemi Agbaje as the Executive Secretary to the Fund. While inaugurating the Board of Trustees, the following terms of reference were provided by the Governor to enable #OGSTF to put Ogun State on TRACK to a safe, secure and prosperous Gateway State.
- To provide money for the acquisition and deployment of security equipment and such human, material and financial resources as shall be necessary to prevent crime and preserve public security in the state.
- To promote the efficiency of all the security agencies in the state.
- To hold for the benefit of all residents of the state, gifts, property and money for the purpose of crime prevention and public security in the state.
- To mobilize funding and resources in cash or kind from the public, private, corporate, institutional or other sources and to manage those resources in a transparent and accountable manner for the purpose of public security in the state.
- To reserve part of the fund for the training and retraining of security personnel in the state.
- To acquire and deploy security equipment and other resources as shall be necessary for achieving the objectives of the Fund.
- To reserve part of the Fund for the training and retraining of security personnel in the state.
- To hold for the benefit of all residents of the state, gifts, property and money.
- To do all other things and perform all other functions for the purpose of public security as are contained in the Ogun State Security Trust Fund Law 2011 as amended by the Ogun State Security Trust Fund (Amendment) Law 2019.
In summary, The functions of the Security Trust Fund #OGSTF Board include management of the Fund; procurement and maintenance of equipment; protecting assets of the Fund through insurance; advising the governor on activities of federal, state and local government security, para-military and law enforcement agencies; sharing information on security with relevant security agencies; investment of part of the Fund “on commercial interest rate in any reputable bank in Nigeria…”; raising money for the fund through voluntary subscriptions and donations; and “regulate the activities of the private security agencies”