Billionaire Mogul, Jim Ovia Pledges Fresh ₦250mn To Lagos Security Fund

FUNSHO AROGUNDADE

Founder and Chairman, Zenith Bank Plc, Chief Jim Ovia, has re-affirmed his support to the Lagos State Security Trust Fund (LSSTF) by pledging an additional 150 percent of his previous donations to the fund.

He made the announcement on behalf of Zenith Bank Plc Board of Directors during a parley with Lagos State Governor Mr. Akinwunmi Ambode at the Lagos Means Business forum at Eko Hotels and Suites.

Ovia commended the Lagos State Government under Governor Ambode for encouraging an enabling environment for businesses, particularly pointing out the remarkable improvement in security across the state.

According to Ovia, the Security Trust Fund has become a model for other states across the federation.

He thus encouraged other private sector stakeholders to increase their contribution in funding the security initiative.

While stating the nature of security in Lagos, Ovia lauded the leadership style of Ambode, likening the state to an incorporated enterprise being so efficiently run by its chief executive officer.

Ovia thus expressed his desire to see Ambode re-elected as governor of Lagos State in 2019, hinging his position on what he sees as impressive performance in the last three years.

“Your Excellency, you have spoken today like a Chairman/CEO of a company to his shareholders. We are definitely one of your shareholders and we would renew your mandate in 2019 there’s no doubt,” Ovia said.

He would be the second corporate chieftain to endorse Ambode for second term within a week, following a similar position by Mr Femi Otedola, Chairman of Forte Oil Plc.

The LSSTF was established on September 3, 2007 as a public-private partnership for the improvement of security in Lagos State.

Since its inception, Zenith Bank Plc has made annual contribution of ₦100million in the past 11 years amounting to a cumulative total of ₦1.1billion.