On Tuesday, 13th February, The Registrar General, Corporate Affairs Commission (CAC), Hussaini Magaji, while speaking in a conference held in Abuja, instructed that online content creators and influencers with large followers, must register with the commission in accordance with the Company and Allied Matters Act 2020. 

This is after report emerged online revealing the plans of Federal Inland Revenue Services to onboard online content creators and influencers into its tax system.

According to Magaji, social content creators and influencers generate alot of funds online without paying any tax to the government.

In his words;

“Ignorance of the law is not an excuse. It is stated in the Company and Allied Matters 2020 that for any business to take place in Nigeria, whether you are doing business with your name or another name, you must surrender your business for registration.

”If you are a content creator on the internet and you have a large followership and you are gaining or making money from it, you must register and that’s the provision of the law.

“And we are all out to enforce the provision of the law with its penalties.”

Speaking further he revealed that they will begin to checkmate the parties concerned, to ensure that they comply with the new policy.

“This cannot go on, these groups of people are under mandate to register as a business considering the amount they make from the content creation. The government is all out to ensure every business in Nigeria, no matter what or how, is registered with the CAC.”

By Egungwu Chukwuka Benjamin

Egungwu Chukwuka Benjamin also known as, 'Chukaben' is a Nigerian journalist and entertainer. Former reporter Champion Newspaper, Lagos. Paternal SO: Enugu State maternal SO: Anambra State

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