4 hours ago
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The House of Representatives has moved closer to establishing a Special Security Trust Fund, which would provide dedicated financing for security-related matters beyond the annual budgetary allocations.
The proposed fund, currently in its final legislative stage, is designed to bolster security agencies with additional resources to tackle the country’s mounting security challenges.
Sponsored by Rep. Ahmed Satomi, the bill proposes funding the trust through sources including 1% of all monies in the Consolidated Revenue Account, unclaimed dividends held for over three years, and proceeds recovered from corruption, money laundering, and drug-related crimes, as well as donations and contributions from national and international organisations, and philanthropic individuals.
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However, the bill specifies that any donations must align with the fund’s objectives, stating that the board “Shall decline gifts where the conditions attached are inconsistent with the objectives of the fund.”
The proposed legislation also stipulates that the fund will be managed by a Board of Trustees, with its activities subject to presidential approval. It is expected to be used for security personnel training, the acquisition of state-of-the-art intelligence and surveillance equipment, and the upgrade of training institutions to global standards.
At the public hearing yesterday, Rep. Satomi, who is also the chairman of the House Committee on National Security and Intelligence, defended the bill, emphasising that its primary goal is to address Nigeria’s security challenges by ensuring adequate funding for intelligence and security operations.
House speaker, Abbas Tajudeen, also spoke in support of the bill, noting that insecurity—ranging from banditry and kidnapping to oil theft—has caused economic disruptions and forced thousands of Nigerians to flee their homes.
But despite its intended benefits, the bill has faced scrutiny from stakeholders, including the military, intelligence agencies, financial regulators, and security experts.
The Defence Headquarters, in a submission on behalf of the armed forces, argued that the bill does not adequately include military representation in the fund’s governance structure.
“Section 2 of the draft bill provides for a Board of Trustees but includes representatives from the State Security Service (SSS), Defence Intelligence Agency (DIA), National Intelligence Agency (NIA), and the Office of the National Security Adviser (ONSA) while excluding representatives of the armed forces. Each of the three military services—the Army, Navy, and Air Force—should be represented,” it stated.
The military also recommended that 10% of proceeds from seized illegal arms imports be allocated to the fund. However, it opposed provisions in Section 7 that allow the fund to provide emergency financing, arguing that such matters should remain within presidential discretion.
Similarly, the National Intelligence Agency (NIA) raised concerns about potential risks to classified operations. The agency objected to Section 6(2) of the bill, which mandates board approval for security-related interventions.
On its part, the Securities and Exchange Commission (SEC) strongly opposed the provision that allows unclaimed dividends to be used as a funding source.
“While national security is of utmost importance, diverting investors’ earnings in this manner would severely impact confidence and stability in Nigeria’s capital markets,” SEC stated.
Meanwhile, the National Counter-Terrorism Centre urged lawmakers to refine the bill to enhance transparency, prevent bureaucratic delays, and ensure accountability in fund management.
The Economic and Financial Crimes Commission (EFCC), on the other hand, supported the bill, arguing that it aligns with global best practices in ensuring proper oversight of security financing.
Other security institutions, including the Nigerian Air Force and the National Institute for Security Studies, backed the establishment of the fund, citing similar models in other countries.
“The United States has classified budgetary provisions for intelligence agencies such as the CIA, NSA, and FBI, which enable them to respond swiftly to emerging threats. The European Defence Fund serves a similar purpose within the EU,” the Nigerian Air Force noted in its submission.
However, the Police Service Commission (PSC) and the Force Intelligence Bureau (FIB) called for the inclusion of police intelligence units in the board’s structure.
“The Force Intelligence Bureau, which is responsible for nationwide intelligence gathering, should have a representative in the Board of Trustees to ensure fair allocation of resources,” DIG Dasuki I. Galadanchi stated.
He also urged lawmakers to explore public-private partnerships, leverage artificial intelligence in security operations, and allocate sufficient resources to emerging security technologies.
English (US) ·