The CAC said it is in line with its continued bid to drive compliance and achieve President Bola Ahmed Tinubu's dream of creating 50 million jobs.
The Corporate Affairs Commission has announced plans to formalise 300,000 businesses in Nigeria.
It urged social media content creators including those on Instagram and TikTok with large followers and crypto businesses to register with the commission in accordance with the Company and Allied Matters Act 2020.
The CAC said it is in line with its continued bid to drive compliance and achieve President Bola Ahmed Tinubu's dream of creating 50 million jobs.
The Registrar-General and CEO of the CAC, Hussaini Ishaq Magaji (SAN) revealed this on Tuesday during a meeting with the management of Opay Services Ltd.
Magaji recalled that last week the CAC recorded a similar milestone for bringing on board two million businesses through Moniepoint.
The CAC boss, who stressed that operating businesses without registration was criminal under the provisions of the Companies and Allied Matters Act, 2020, said the Commission was providing a window for the unregistered businesses to formalise in line with President Bola Ahmed Tinubu's Renewed Hope Agenda.
He therefore reiterated his determination to register 20 million businesses in 2024 to complement the present administration's efforts to boost the MSMEs sector for economic growth.
While fielding questions from journalists, Magaji charged content creators, crypto businesses, and others to ensure that they operate within the rules and regulations governing their operations.
In his remarks, the Managing Director of Opay Services Ltd., Dauda Gotring stated the company’s commitment to bring on board all their yet-to-be-captured agents and merchants, numbering 300,000.
Dauda said Opay's core mission was to ensure financial inclusion, adding that they were set to ensure adequate sensitization before the commencement of the exercise.
He added that the formalisation would be beneficial to both the government, operators, and intending Opay customers.