BAT Opens Up On $110m FCCPC Fine
Lagos, Dec. 30, 2023 (NAN) The British American Tobacco (BAT) says it remains committed to operating in compliance with Nigerian laws despite the heavy fine imposed on it by the Federal Competition and Consumer Protection Commission (FCCPC).
Mrs Odiri Erewa-Meggison, the External Affairs Director, British American Tobacco, BAT West and Central Africa, said this in a statement on Saturday in Lagos following the FCCPC fine
Erewa-Meggison said the commitment was in response to the $110 million fine levelled on the company by the Federal Competition and Consumer Protection Commission (FCCPC).
She stated that the company had previously disclosed the investigation mentioned by the FCCPC in its 2022 annual report.
Erewa-Meggison added that the development was most recently contained in its Half-Year Report for the six months ended June 30, 2023.
“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,” she said. (NAN)
