A report by Daily Trust indicates that banks, big corporations, as well as VIPs, will start paying for police escorts and guards.

According to the presidency, this is coming after the Federal Executive Council (FEC) approved the formation of the Special Police Services on Wednesday, July 14.

Presidential spokesman, Garba Shehu made the disclosure on behalf of some ministers while briefing State House reporters on the outcome of the FEC meeting, The Cable added.

Shehu explained that the new police unit will formalise the deployment of officers as escorts to VIPs and guards to corporations.

He said the approval of the scheme was in the interest of transparency and accountability.

Speaking further in Abuja, Shehu revealed that there will be an introduction of tariffs and billing schemes, adding that the unit will be using PPP (public private partnership) arrangement.

The presidential spokesman also noted that the revenue generated will go to the federal government and the police.

He added that part of the funds will also go into police allowances and consultants helping to manage this as their fees.