If it's owned by you then just check the lockbox. You don't lock a folder by removing access. You would do it from the command line (Terminal).
sudo chflags uchg <path to folder>
But maybe you don't really mean "lock" and you do want to prevent access?
Usually this requires knowing how to change Permissions in Terminal, but there's an easy way to do this using BatChmod
http://www.lagentesoft.com/batchmod/index.html
Open up BatChmod and just drag the folder into the open field. It will populate with the current permissions. Change them to what you want, and when asked to authenticate, give your admin password.
HOWEVER, that this folder isn't owned by you, might suggest that it's a necessary system folder and you will damage things by changing its permissions. Can you say what this folder is?