The Federal Government (FG) through the Federal Competition and Consumer Protection Commission (FCCPC) has fined the British American Tobacco and its affiliate companies $110 million. This was made known in a statement issued on Wednesday by FCCPC, which stated that an investigation was initiated on 28 August 2020, over the company’s alleged infringement of the Federal Competition and Consumer Protection Act (FCCPA), National Tobacco Control Act and sundry legal instruments.
The statement revealed that the affiliated companies that contravened the laws include British American Tobacco Marketing (Nigeria) Limited (BATMN) and British American Tobacco (Holdings) Limited.
The statement reads in part, “The Commission gathered, received and procured substantial evidence from forensic analysis of electronic communications and other information/data obtained during the search, as well as other evidence procured during and after the search from other legitimate sources.
“Additional investigation, including proffers, hearing, transcripts of sworn testimonies, and continuing analysis of evidence established and supported multiple violations of the FCCPA and other enactments.
“During the investigation and in furtherance of mutual engagements between the Commission and BAT Parties, BAT Parties in writing sought, and the Commission accepted BAT Parties into cooperation under the Commission’s Cooperation/Assistance Rules & Procedure, 2021 (CARP).”
According to the statement, FCCPC and BAT Parties concluded the investigation through a consent order, which involves BAT Parties agreeing to pay a $110 million penalty, subject to 24-month compliance monitoring.
The Commission reiterated its commitment to promoting and enabling fair market prices while protecting the interests of consumers.
