The British American Tobacco Nigeria (BATN) has clarified that it owes no outstanding obligation to the Federal Competition and Consumer Protection Commission (FCCPC) regarding its decision to impose a purported $110 million fine on the tobacco giant.
Responding to recent reports regarding the BATN, the company explained that it previously disclosed that the investigation being mentioned by the FCCPC was accommodated in its year-end 2022 Annual Report and most recently in its half-year report for the six months to June 30, 2023.
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A statement by the company said: “In December 2022, the FCCPC entered into a consent order, terminating the mentioned investigation and associated proceedings. The British American Tobacco (Nigeria) Limited and British American Tobacco Marketing (Nigeria) Limited have made payments to settle the penalty.
“BAT Nigeria acknowledges the mentioned monitoring 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.”
