A section of Ikoyi Correctional Center is currently under attack with smoke billowing from the building and gunshots heard.
In a video which was shared on social media by eyewitnesses, inmates can be seen running and trying to escape.
As at the time of this report, it is yet unclear if the attack is a jailbreak attempt or attack by hoodlums.
Policemen and soldiers have however been deployed to the prison to backup security on ground, CHANNELS TV reports.
Inmates are said to have been contained thus far with soldiers and the police officers strategically stationed at the four corners of the prison.
The prison offices are however still on fire.