As part of measures to improve the lots and welfare of creatives, especially entertainers, a N1 billion entertainment trust fund has been launched under a new initiative dubbed, the Society for the Advancement of Entertainment and Trust.

The project, promoted by entertainment practitioner, Victory Okelezo, popularly known as Kupa Victory, was established as a support system to strengthen the welfare, healthcare and provide financial security for entertainers and other creatives.

Speaking at the launch of the initiative in Lagos, themed, “Life After the Art”, Okelezo said some creatives are not happy that their colleagues become more like beggars when they become critically sick or are faced with a major life challenge.

According to him, the initiative was birthed because of the increasing cases of illness and sudden deaths among entertainers, noting that many creatives remain financially vulnerable despite their public image and success.

On his part, Human rights lawyer, Femi Falana, SAN, who delivered the keynote address, stated that the idea is timely, noting that artists, actors and other successful creatives should not be left to become beggars after contributing hugely to boost Nigeria’s image through cultural and entertainment.

He however said that creatives must begin to have support system and advice to ensure that their creativity is not exploited by who stole their intellectual property. He also said they also need to have advisers on how to manage their resources so that it is not wasted.

He also said that there is need for greater awareness and access to insurance, especially as the National Health Insurance Authority Act makes it mandatory for every Nigerian to be covered.

The representative of the Directors Guild of Nigeria (DGN), Mr Fidelis Ducker observed that the trust would help creatives protect themselves against going cap in hand” to politicians and wealthy individuals whenever they face serious challenges.

He stated that a properly established trust could provide resources to support a creative 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 Patience Ozokwo, who was announced as one of the trustees, provided a personal account of the financial challenges confronting entertainers despite their public image of affluence.

The trust fund would be manage by Meristem, a wealth management company, that promised to grow the fund. The initiative is also supported by Leadway Assurance, with other partners including Electrified Engineering and Move Media Africa.