With millions of Nigerian creative artists and professionals operating outside the formal pension system, Veritas Glanvills Pensions is bringing micro-pension plans to Nigeria’s creative industry.
“We hope to give every creative professional a straightforward, tailor-made pension plan that grows with them,” the company said.
Building on a five-year partnership with Femi Adebayo, Nollywood actor, and its brand ambassador, the pension fund administrator is targeting artisans, freelancers and self-employed professionals in film, music, fashion and allied sectors, aiming to unlock both social protection and long-term financial planning for the creative economy.
The move comes at a pivotal time for Nigeria’s pension sector. With assets under management hitting an all-time high of N23.26 trillion as of February 2025, the sector has grown significantly since the introduction of the Contributory Pension Scheme (CPS) in 2004.
The National Pension Commission (PenCom) also reports 10.53 million registered contributors under the CPS as of October 2024, and 143,565 informal-sector workers enrolled under the Micro Pension Plan by June 2024, still a small fraction of Nigeria’s total workforce.
Oluwakemi Aroyehun, head of business development at Veritas Glanvills Pensions, reaffirmed the company’s commitment during a congratulatory visit to Adebayo following his success and wins at the recently concluded African Magic Viewers’ Choice Award.
Speaking on behalf of Godson Ukpevo, the company’s managing director, Aroyehun said, “Veritas aligns with Femi Adebayo because he embodies core values of excellence, impact and integrity. His recent AMVCA triumph reinforces our belief in the power of our partnership to drive change and financial inclusion in the creative space.”
Adebayo, speaking on the importance of retirement planning for informal workers, said, “Micro pension plan is a package for artisans and professionals who do not earn like employed people, and I fall into that category. I use myself as an example to many of my colleagues. I tell them, the millions you make today will not be the millions you will make tomorrow, and so it is important to set aside some funds for the latter part of your life.”
Tracing the company’s roots back to its 2007 launch, Aroyehun noted that Veritas now manages close to N300 billion in pension assets for approximately 200,000 clients.
“In the pension industry, relationship management, return on investment, accessibility, benefits processes, among others, are important factors that enhance customer satisfaction,” she added.
“Veritas also employs state-of-the-art technology to ensure customer satisfaction.”
The company aims to embed micro-pension contributions directly into the value chain of the creative industry through automated deductions and seamless digital onboarding, making it easier for irregular earners to plan for retirement without disrupting their cash flow.
As Adebayo put it, “This model can help you create capital for further investment when you don’t even think you can.”
