Cross River Launches Security Trust Fund

In Breaking News, Business & Economy, National News, Reports

by crossriverwatch admin

Governor Liyel Imoke of Cross River State
Governor Liyel Imoke of Cross River State

In its proactive effort at sustaining the state’s reputation as the safest and most secured in the country, the Cross River State Government on Monday formally launched its Security Trust Fund.

Speaking at the launch of the fund in Calabar, the State Governor, Senator Liyel Imoke disclosed that the fund which would be managed by the private sector, provides a platform to holistically address issues of safety of lives and property of investors and the citizenry.

“The current inflow of Foreign Direct Investment into the state comes with the belief that there is security, and that the state is a good and safe place to do business. So for us, it becomes important that we remain proactive in our vision towards security in the holistic development of Cross River Sate,” he stated.

The Governor noted that putting together the Cross River State Security Trust Fund, which is backed by the state’s law No. 3 of 2009, has become imperative given the lack of trust and confidence in public sector.

“Given the fact that those of us in the public sector are largely distrusted, this prompted our adoption of a workable model that is sustainable to manage the fund,” said Imoke.

He pointed out that the Fund was conceptualized to get everyone in the state to understand that security cannot be left in the hands of government alone, while it strives to also provide opportunity for corporate organizations and individuals willing to contribute meaningfully to participate in its management.

“The management of the fund will be by persons of proven integrity. That is why I am calling on the private sector to come and take ownership and fully participate in the entire process. I want you to see this as your social corporate responsibility that will contribute significantly to the growth of your business in the state,” he added.

The Governor averred that it was important that as a state with reputation and focus on an economy that is service driven, with greater focus on tourism and hospitality, it was imperative that its security be strengthened in line with current realities, maintaining that galvanizing resources for common course will not only yield positive result but also encourage synergy amongst security operatives for optimal output.

“We are still not where we want to be because there is largely resistance from the public particularly on issues relating to procurement, getting the buy-in of the private sector which is key to the success of this program, which is why sensitization will be scaled up.”

In a multi-media presentation, the Executive Secretary, Lagos State Security Trust Fund, Mr. Fola Arthur-Worrey, who spoke on the Lagos State experience stressed the need for transparency and accountability by the managers of the fund so as to enjoy the public confidence.

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