Nollywood practitioners’ unrelenting attitude towards ensuring that the industry gets structured has yielded positive results as the industry gets a pension, insurance and health scheme.

The Coalition of Nollywood Guilds Association (CONGA) announced the details of the scheme which is to be administered by the funds management firm, BGL, at a press conference in Lagos.

An apparently excited Bond Emerua, the chairman of CONGA, told pressmen and other excited Nollywood practitioners present, including the heads of the many guilds in the industry, that this new development, which he called the CONGA Funds, is a giant achievement for the association.

“This will automatically put an end to launching an appeal fund on behalf of CONGA members in a case of a mishap as we’ve seen done for some of our colleagues,” Mr. Emerua said.

“It is planning for our retirement because unlike other professions, you can’t say when retirement will come in Nollywood.

“For as little as N11, 000 per annum you can unlock about N400, 0000 worth of medical care should the need arise,” he continued.

Edger Joseph, a BGL official, explained that CONGA Funds is open to not just the movie producers, actors and directors alone. He said scriptwriters, costumers, stuntmen and other lesser recognized Nollywood practitioners can also join in.

The CONGA Funds is administered by BGL who has gotten healthcare insurance companies, Health Care and Guardian Health, on board to provide the health coverage and Royal Exchange, to cover the property Insurance. The funds require interested individuals to pay annual premiums of varying categories which will in turn unlock different levels of benefits from the scheme.

Notable Nollywood faces at the conference included Segun Arinze; President, Actors Guild of Nigeria, Zik Zulu; president, Association of Movie producers, Andy Amaneche; President, Directors Guild of Nigeria and screenwriter, Chike Brain.