The Registrar General of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, disclosed on Tuesday, February 13, that social media content creators, Instagram users with larger followers, and TikTok users will soon be forced to register as businesses so they can start paying taxes to the government.
The RG disclosed this during a visit by the managing director, Opay, Dauda Gotring, and his team in Abuja, stating that the social media and content creators are generating a lot of money without paying any form of tax to the federal government.
He said: “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.
“The commission is registering another batch of three hundred thousand business names from Opay. The visit from the Opay team is to ensure the regularisation of these business names in CAC. This will expand the tax net, encourage businesses, and create more jobs for Nigerians.
He noted that the idea behind Opay operations is to ensure every Nigeria uses a bank, even in the rural areas.
Opay is ready to partner with CAC to ensure these groups of people have their businesses registered, with their consent though.
Gotring said the Opay organization is working to ensure that all companies no matter how little, as long as you operate as a business you should be registered with the CAC.
He added that since Opay handles “these accounts they are working on sensitizing the owners of the accounts so they can be registered with CAC.”