You’re making money – CAC says content creators must register

The Corporate Affairs Commission now requires social media content creators, or CACs, to register their handles and accounts.

According to CAC, users of TikTok and Instagram with a sizable following must register their enterprises with the commission.

According to the commission, this complies with the 2020 Company and Allied Matters Act.

This coincides with reports that the Federal Inland Revenue Services, or FIRS, is preparing to integrate influencers and media material into its tax system.

Registrar General Hussaini Magaji of CAC made this revelation on Tuesday while the Managing Director of Opay, Dauda Gotring, and his delegation were in Abuja as a courtesy.

The purpose of the Opay team’s visit was to ensure that 300,000 agents and merchants received their commission regularly.

“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.”

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