The accident occurred near the UNILAG waterfront, inward Iyana-Oworonshoki.
Michael Akindele, general manager of the Lagos State Emergency Management Agency (LASEPA), confirmed this in a statement.
He said the accident involved a LAGBUS, a Hilux pick up belonging to Onyabo, a local vigilance group in the Ikorodu area of the state, and a Rover jeep.
“Five persons comprising: three female adults and two children died in the accident,” he said.
“The State Environmental Health Monitoring Unit (SEHMU) have deposited their bodies at the Lagos Mainland Hospital mortuary.
“Five others who sustained injuries have been transported by LASAMBUS to another general hospital’s trauma centre.”
He added that the LASEMA response unit had also recovered the affected vehicles from the scene of the accident.
Akidnele said that the relevant government agencies would conduct proper investigation into the cause of the accident.
He advised motorists to reduce their speed while driving, and recommended that people adhere to all traffic rules and regulation while driving.