All content creators and social media influencers in Nigeria, have been asked by the Corporate Affairs Commission (CAC), to register their businesses with the commission and start paying federal government taxes.
This new development was revealed on Tuesday, February 13 by the CAC registrar, Hussaini Magaji.
While speaking, Magaji said, “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.
“And we are all out to enforce the provision of the law with its penalties.”
He also revealed that the commission will soon go round to check if content creators are adhering to the new law, stating that he will make sure they pay their taxes to the government.
He added, “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”.
