The British American Tobacco (BAT) has said it remains committed to operate in compliance with Nigerian laws.
BAT made the commitment in a statement while responding to the $110million fine levied on the company by the Federal Competition and Consumer Protection Commission (FCCPC) recently.
The statement said BAT previously disclosed the investigation mentioned by the FCCPC in its year-end 2022 Annual Report and most recently in its Half-Year Report for the six months to 30 June 2023.
According to it, the FCCPC had In December 2022, 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.
“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,” the statement added.
Nigeria’s FCCPC recently secured a 110-million-dollar enforcement action against the British American Tobacco Nigeria Limited and other affiliated companies (BAT Parties).
In a statement released by the commission on their X page, it was reported that the development was with respect to a range of violations of the Federal Competition and Consumer Protection Act, National Tobacco Control Act and sundry legal instruments.
The Executive Vice Chairman and CEO of FCCPC, Babatunde Irukera, had said the British American Tobacco Nigeria Limited engaged in conduct considered abusive from a dominant player in the market, which led to the steep fine that the company was slammed with.
In an interview with Arise News on Thursday, Irukera also noted that the $110 million fine that BAT incurred was a reduced penalty as the company went through an administrative route in order to avoid judicial prosecution, which in turn, earned them a reduced penalty.