BAT Reaffirms Commitment To Nigerian Laws, Says $110m Fine Paid

British American Tobacco (BAT) has reaffirmed its commitment to operating in compliance with Nigerian laws following a $110 million fine imposed by the Federal Competition and Consumer Protection Commission (FCCPC), adding that it has “made payments to settle the penalty.”

In a statement released on Saturday in Lagos, BAT’s External Affairs Director for West and Central Africa, Mrs Odiri Erewa-Meggison, while addressing the fine, said it pertained to an investigation previously disclosed by the company in its 2022 annual report and updated in its Half-Year Report for June 30, 2023.

Erewa-Meggison further acknowledged the monitorship and awareness campaigns stipulated in the consent order, confirming that BAT Nigeria has fully cooperated with the FCCPC’s appointed service providers.

The statement read, “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)