British American Tobacco To Pay $110 Million Over Infringement, Says FCCPC…
Written by City Radio on December 28, 2023
The British American Tobacco Nigeria Limited (BATN) and affiliated companies will pay a $110 million penalty over multiple infractions, the Federal Competition and Consumer Protection Commission (FCCPC) said on Wednesday.
According to a statement, the affiliated companies that contravened the laws include British American Tobacco Marketing (Nigeria) Limited (BATMN), British American Tobacco Plc, and British American Tobacco (Holdings) Limited.
This followed an investigation initiated on 28 August 2020, after the commission obtained a court-issued order and warrant of search and seizure.
Substantial evidence, including forensic analysis and testimonies, revealed several violations and BAT parties cooperated under the commission’s Cooperation/Assistance Rules & Procedure, 2021, the FCCPC said.
The Commission withdrew outstanding criminal charges against BATN and at least one employee for attempting to impede an inquiry.
The statement noted that after reviewing evidence and cooperation, the FCCPC and BAT Parties closed the investigation through a consent order, the statement said, adding that the settlement involves BAT Parties agreeing to a $110 million penalty, subjected to 24-month compliance monitoring.
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