By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
P9O Newsletter
Join Us!

Subscribe to our newsletter and never miss our investigative stories, breaking news, podcasts etc..

Zero spam, Unsubscribe at any time.
  • Home
  • Nigeria
  • Politics
  • Metro
  • World
  • Lifestlye
  • Football
  • 2023 Election
Reading: CAC Urges Social Media Influencers to Register Businesses
Prime 9ja Online
Prime 9ja Online Prime 9ja Online
Aa
  • Africa
  • Business
  • Football
  • Metro
  • Nigeria
  • Opinion
  • Politics
  • Technology
Search
  • Categories
  • _Football
  • _Lifestyle
  • _World
  • _Metro
  • _Politics
  • _Nigeria
  • Pages
  • _About Us
  • _Contact Us
  • _Privacy Policy
Follow Us
Business

CAC Urges Social Media Influencers to Register Businesses

In a move to expand the tax net and encourage business growth, the Corporate Affairs Commission (CAC) has called on social media content cre...

Chima Joseph Ugo
Chima Joseph Ugo - Editor-in-chief February 20, 2024
Updated February 20, 2024 at 10:29 AM
Share
CAC Urges Social Media Influencers to Register Businesses
SHARE

CAC Urges Social Media Influencers to Register Businesses

In a move to expand the tax net and encourage business growth, the Corporate Affairs Commission (CAC) has called on social media content creators, Instagram users, and TikTok users with large followings to register their businesses with the commission. 

This call is in accordance with the Company and Allied Matters Act 2020 and comes amidst alleged plans by the Federal Inland Revenue Services to onboard media content creators and influencers into its tax system.

The Registrar General of CAC, Hussaini Magaji, made this call on Tuesday during a courtesy visit by the Managing Director of Opay, Dauda Gotring, and his team in Abuja. 

The purpose of the visit from the Opay team was to regularise 300,000 agents and merchants with the commission, a move aimed at expanding the tax net, encouraging businesses, and creating more jobs for Nigerians.

Last week, the commission began the registration of two million small businesses in partnership with Moniepoint, a fintech company. The CAC boss stated that social media and content creators are generating a lot of money without paying any form of tax to the Federal Government.

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."

He added that the commission will soon begin compliance checks to ensure these businesses start paying their taxes to the 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 CAC boss revealed that the initiative is part of his target to register 20 million businesses in 2024 and achieve a 50 million jobs target for Nigerian youths.

On his part, the Opay MD noted that the idea behind Opay operations is to deliver banking services to the unbanked persons in the country. He said, “Opay is ready to partner with CAC to ensure these groups of people have their businesses registered, with their consent though." Gotring added that since Opay handles these accounts, they are working on sensitising the owners of the accounts so they can be registered with CAC.

Tags: Business, Nigeria

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share this Article
Facebook WhatsApp TwitterEmail Print

You Might Also Like

Facebook Like
Twitter Follow
Pinterest Pin
Telegram Subscribe
Prime 9ja Online

Subscribe to our newsletter to receive our latest updates instantly on your email.

About

  • About Us
  • Privacy Policy
  • Terms
  • Disclaimer
  • Fact-Checking Policy
  • Code of Ethics
  • Corrections and Correctives
  • Editorial Integrity
  • Ethical Conduct
  • Funding

Connect

  • Contact Us
  • Advertise
  • Submit a Tip

© 2025 Prime 9ja Online Media - All Rights Reserved.

Follow Us