The Lagos State Governor, Mr. Akinwunmi Ambode, has appointed a former Chairman of the Federal Inland Revenue Service, Mrs. Ifueko Omoigui-Okauru, to head the Board of Trustees for the N25bn State Employment Trust Fund.
The fund is geared towards addressing the challenge of youth unemployment and promoting wealth creation through entrepreneurial development in the state.
A statement by the Chief Press Secretary to the governor, Mr. Habib Aruna, said he also approved the appointment of nine others to serve as members of the Board of Trustees of the fund.
Other members of the Board are Mr. Dele Martins, Mrs. Bilikis Adebiyi-Abiola, Mr. Otto Orondaam, Mrs. Olufunmi Daudu, Mr. Tunde Bank-Anthony and Mr. Micheal Popoola Ajayi.
The Commissioner for Wealth Creation, Mr. Tunde Durosinmi-Etti, and his counterpart in the Ministry of Finance, Dr. Mustapha Akinkunmi, are part of the Board, while Mr. Akintunde Oyebode is to serve as Executive Secretary of the Board.
Ambode had signed the bill establishing the fund into law on Tuesday, explaining that the move was in line with the promise he made to the people during his campaign for governor.
He said he was optimistic that the Fund would address the challenge of unemployment and promote wealth creation through entrepreneurial development.
According to him, an annual contribution of N6.25bn will be injected into the Fund by the State Government for four years totalling N25bn.
Also on Wednesday, Ambode inaugurated a new board for the Lagos State Law Reform Commission.
The governor restated the commitment of his administration to deepen democracy and rule of law especially by carrying out periodic review of obsolete laws in the State to bring them in tune with current realities for relevance and effectiveness.
“This is a major project which the new Board has a responsibility to deliver in record time. It is very vital to the success of our drive to attract investors to our State,” he said.
The Chairman of the board is Prof. Gbolahan Ellias (SAN), while the Executive Secretary is Mrs. Ade Adeyemo.
Dr. Omogbai Omo-Eboh, Mr. Demola Sadiq and Mrs. Tola Akinsanya are members of the Board.
