British American Tobacco agrees to pay as Tinubu’s government slams $110 million penalty

British American Tobacco (Nigeria) Limited said it has made payment for the $110 million fine slammed on it by the Federal Competition and Consumer Protection Commission (FCCPC) for ant-competitive practices.

The company’s External Affairs Director in West and Central Africa, Oddiri Erewa-Meggison, disclosed this in a statement, according to a report by the News Agency of Nigeria (NAN).

BAT agrees to play by the rules

Erewa-Meggison said that in light of the fine imposed on the company by FCCPC, it is committed to abiding by the regulations and guidelines set by the Commission and the country.

She stated that the company had already disclosed the investigation cited by the FCCPC in its annual report for 2022.

She also revealed that the information was contained in the recently published Half-Year Report of the Commission for June 30, 2023.

The statement said:

“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.”

The $110 million fine imposed on British America Tobacco and British America Tobacco Marketing Nigeria Limited was for anti-competitive practices and the flouting of Nigerian tobacco laws.

FCCPC had said that the company and its affiliates in Nigeria would be made to abide by the laws regulating the tobacco industry in the country.