By Yinka Akanbi
The Corporate Affairs Commission (CAC) has insisted that social media influencers and content creators are obliged to register their social media handles and accounts.
According to the commission, this includes Instagram and TikTok users with a large following.
The CAC argued that this is in accordance with the Company and Allied Matters Act 2020.
This development is coming amid alleged plans by the Federal Inland Revenue Services (FIRS), to onboard media content and influencers into its tax system.
CAC Registrar General, Hussaini Magaji, made this disclosure on Tuesday during a courtesy visit by the Managing Director of Opay, Dauda Gotring and his team in Abuja.
The visit from the Opay team was to ensure the regularisation of 300,000 agents and merchants with the commission.
In his words: “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.”
