The Corporate Affairs Commission is urging social media content creators and influencers with substantial followership to comply with the Company and Allied Matters Act 2020 by registering their businesses with the commission. This development follows reported intentions by the Federal Inland Revenue Services to integrate media content and influencers into its tax framework.

Hussaini Magaji, the Registrar General of CAC, emphasized this call on Tuesday, February 13, in Abuja. He pointed out that despite generating significant income, many social media and content creators are not contributing taxes to the Federal Government. Magaji emphasized the legal requirement outlined in the Company and Allied Matters Act 2020, asserting that all businesses operating in Nigeria, whether under personal or alternate names, must undergo registration.

Magaji stated, “Ignorance of the law is not an excuse. If you are a content creator on the internet with a substantial following and are earning revenue, registration is mandatory according to the law. We are committed to enforcing these legal provisions, including associated penalties.”

He announced upcoming compliance checks by the commission to ensure that these businesses fulfil their tax obligations to the government. Magaji concluded, “This status quo is untenable. These individuals are obligated to register as businesses, given their significant earnings from content creation. The government is resolute in ensuring that every business in Nigeria, regardless of its nature, is registered with the CAC.”