By SUNKANMI AKONI
A private organisation, the Society for the Advancement of Entertainment and Trust, in partnership with other stakeholders, has launched a trust fund aimed at improving the welfare, healthcare and long-term financial security of Nigerian entertainers and other creatives.
The initiative, promoted by entertainment practitioner Victory Okelezo, popularly known as Kupa Victory, was unveiled in Victoria Island, Lagos, with a N1 billion take-off fund and an eventual target of N5 billion.
Under the theme, “Life After the Art,” the organisers said the initiative was designed to provide sustainable support for creatives and reduce their dependence on public appeals whenever they face medical emergencies or financial difficulties.
Speaking at the launch, Okelezo said the initiative was inspired by the growing cases of illness, financial hardship and sudden deaths among entertainers, noting that many creatives remain vulnerable despite their public image of success.
Human rights lawyer, Femi Falana, SAN, described the initiative as timely, stressing that entertainers who have contributed significantly to Nigeria’s cultural and economic development should not become beggars after their active years.
Falana called for greater awareness and access to insurance, noting that the National Health Insurance Authority Act provides a framework for health insurance coverage for Nigerians and residents.
He recalled that the former National Health Insurance Scheme, established in 1999, had reached only a fraction of the Nigerian population before the National Health Insurance Authority Act was enacted in 2022, making health insurance compulsory.
According to him, the focus should be on protecting the rights of entertainers rather than treating them as beneficiaries of charity.
“It’s not about asking for government, not asking for charity. We’re going to ask for the rights of the artists,” Falana said.
He lamented the poor welfare of many Nigerian entertainers and sports personalities after their active careers, citing the recent death of veteran actor Deji Aderemi, popularly known as Olofa Ina, who reportedly battled liver cancer.
Falana also recalled the plight of former Nigerian footballers who, despite bringing honour to the country, struggled financially in their later years.
He urged stakeholders to ensure that creatives receive the dignity and institutional support they deserve.
The legal practitioner also advocated increased education on insurance, saying many Nigerians still resist life insurance because of misconceptions about death and financial planning.
He pledged his support and legal services to the trust fund, while urging the organisers and insurance companies to engage government on the implementation of existing laws on health and insurance coverage.
Representing the Directors Guild of Nigeria, Fidelis Ducker said the initiative would help creatives protect themselves and eliminate the need to “go cap in hand” to politicians and wealthy individuals whenever they encounter serious challenges.
Ducker said a properly structured trust could provide resources for creatives requiring urgent medical treatment anywhere in the world without depending on individual politicians or government officials.
He described the initiative as an investment in the future of the creative industry and pledged the support of the Directors Guild of Nigeria and the wider movie industry.
Veteran actress and trustee, Patience Ozokwo, also highlighted the financial challenges facing entertainers despite the perception that they are wealthy.
Ozokwo said entertainers are often judged by the cars, clothes and houses they display publicly, while many struggle financially behind the scenes.
She noted that actors often depend on one production after another and lack sustainable income when they stop getting roles.
According to her, the absence of an effective royalty system remains one of the major factors responsible for the financial vulnerability of entertainers.
She explained that actors can watch their old films continue to generate revenue for producers and distributors without receiving corresponding payments.
Ozokwo called for a system that would guarantee royalties for actors whenever their works continue to generate income, arguing that such earnings could provide financial security after their active years.
She also noted that many entertainers become responsible for supporting extended family members once they begin earning, leaving them with little opportunity to build personal financial reserves.
Ozokwo welcomed the trust fund as a much-needed safety net and expressed hope that Falana and other stakeholders would help establish stronger structures to protect the rights and welfare of entertainers.
The initiative is supported by Leadway Assurance, alongside other partners including Electrified Engineering and Move Media Africa.
Other dignitaries at the event included actors Sani Danja and Bayo Adegbe, who were also announced as trustees.
The organisers said the trust fund would ultimately provide creatives with greater access to healthcare, insurance, financial protection and institutional support during and after their active years in the entertainment industry.
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