• Monday, March 04, 2024
businessday logo

BusinessDay

BAT addresses $110m FCCPC fine, resolves penalty payment

BATNF emerges ‘Best Sustainability in Agric’ at West Africa Innovation Awards

British American Tobacco Nigeria (BATN) has said it has made payment to resolve the $110 million fine by the Federal Competition and Consumer Protection Commission (FCCPC).

According to a statement seen by BusinessDay, BATN said that it had previously disclosed the investigation mentioned by the Nigerian Federal Competition and Consumer Protection Commission (FCCPC) in its year-end 2022 annual report and most recently in its recent half year report June 2023.

“In December 2022, the FCCPC entered into a consent order, terminating the mentioned investigation and associated proceedings. British American Tobacco (Nigeria) Limited and British American Tobacco Marketing (Nigeria) Limited have made payments to settle the penalty,” the statement read.

BAT Nigeria said it acknowledges the mentioned monitorship and awareness campaigns and has cooperated fully with the FCCPC’s appointed service providers.

“BAT remains committed to operating in compliance with the laws of Nigeria,” the statement read.

Last week, the FCCPC imposed a $110 million fine on British American Tobacco (BAT) Nigeria and its affiliated companies for multiple violations of the FCCPC Act, the National Tobacco Control Act, and other legal instruments.