First thing you need to do is decompile Keyguard.apk located in system/privapp
Find keyguard_emergency_carrier_area.xml in res/layout-sw360dp.
Look for line: "should be line 8"
Change to and save file
Then open res/values/strings.xml
Look for line 304. Add a line right below line 304 as follows:
303 <string name="keyguard_guest_mode_help_text">"Swipe to switch to %s's home screen"</string>
304 <string name="keyguard_clock_with_battery">%s battery power</string>
305 <string name="mytext">PUT YOUR TEXT HERE</string>
Where it says "PUT YOUR TEXT HERE" is where you enter whatever you want it to say on your lock screen.
Save file and compile Keyguard.apk
Push to System/privapp and Enjoy!!!