BAT Completes $110 Million Penalty Payment

According to British American Tobacco (Nigeria) Ltd, it has paid the $110 million fine imposed by the FCCPC on account of its anti-competitive conduct.

The News Agency of Nigeria (NAN) cited a statement from Mrs. Oddiri Erewa-Meggison, the External Affairs Director of British American Tobacco West and Central Africa, revealing this information.

She reiterated that the company is dedicated to following the rules and regulations established by the Federal Competition and Consumer Protection Commission (FCCPC) and the country, particularly in light of the $110 million punishment the FCCPC levied on the company.

She emphasized that the company had already disclosed the investigation referenced by the FCCPC in its annual report for the year 2022.

Furthermore, Erewa-Meggison pointed out that this information was most recently detailed in the Half-Year Report covering the period ending June 30, 2023.

She stated, “The FCCPC had in December 2022, entered into a consent order, terminating the mentioned investigation and associated proceedings.”

“British American Tobacco (Nigeria) Ltd and British American Tobacco Marketing (Nigeria) Ltd have made payments to settle the penalty.”

“BAT Nigeria 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,”

Earlier in the week, Nairametrics reported the penalty of $110 million imposed on British American Tobacco (Nigeria) Ltd and British American Tobacco Marketing (Nigeria) over anticompetitive conduct ts and flouting of Tobacco laws in the country.