The Corporate Affairs Commission has declared its intention to enforce the registration of content creators on various social media platforms, emphasizing that it is a legal requirement.

The Registrar-General of CAC, Hussaini Magaji, conveyed this message during a meeting with Opay Digital Services, emphasizing that there is no excuse for content creators who fail to register.

Magaji highlighted the importance of compliance with the law, stating, “Bring yourself to full registration. If you are a content creator on the internet, you have followership, and you are gaining from it, you must register. That is the provision of the law. And we are all out to enforce the provision of the law.”

He urged content creators to take advantage of the various classes of registration offered by the commission to formalize their businesses, emphasizing that failure to register is considered a crime in Nigeria.

“Failure to do so is a crime in Nigeria. In the course of this, we can create jobs. Last week, we were at the Ministry of Industry, Trade and Investment, where we accommodated two million small businesses for registration. Today, we are here to receive another bulk of small businesses,” Magaji added.

Magaji explained that the commission’s decision to include the registration process aims to formalize individuals into the system, aligning with President Bola Tinubu’s agenda for hope.

The president’s vision is to provide 50 million youths with employment opportunities, facilitate wealth accessibility, eradicate poverty, and promote youth employment.

In the past, the content creation segment of the creative industry in Nigeria experienced substantial growth, contributing significantly to revenue.

However, the industry faced a lack of attention from governments regarding GDP contributions, registration, and taxation.

The recent focus on registration by CAC reflects a shift in recognizing the potential of content creators in contributing to the formal economy.

Despite concerns about taxation, the Federal Inland Revenue Service clarified that it had no plans to tax content creators, as Personal Income Tax falls outside its purview.