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The British American Tobacco (BAT) has pledged to comply 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.
“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.
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.
