The Corporate Affairs Commission, CAC, has said that social media content creators must now register their handles and accounts.
This include Instagram and TikTok users with large followers, according to CAC, must now register their businesses with the commission.
The commission said that this is in accordance with the Company and Allied Matters Act 2020.
This is coming amid alleged plans by the Federal Inland Revenue Services, FIRS, to onboard media content and influencers into its tax system.
The Registrar General, CAC, Hussaini Magaji, made this disclosure on Tuesday during a courtesy visit by the Managing Director, 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.
“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,” he said.
“And we are all out to enforce the provision of the law with its penalties.”
You’re making money – CAC says content creators must register
