The British American Tobacco (BAT) says it remains committed to operating in compliance with Nigerian laws despite the heavy fine imposed on it by the Federal Competition and Consumer Protection Commission (FCCPC).
It was gathered by Hobnob News reports that mrs Odiri Erewa-Meggison, the External Affairs Director, British American Tobacco, BAT West and Central Africa, said this in a statement on Saturday in Lagos following the FCCPC fine.
Mrs Erewa-Meggison said the commitment was in response to the $110 million fine levelled on the company by the Federal Competition and Consumer Protection Commission (FCCPC).
She mentioned that the company had previously disclosed the investigation mentioned by the FCCPC in its 2022 annual report.Erewa-Meggison added that the development was most recently contained in its Half-Year Report for the six months ended June 30, 2023.
In december 2022, FCCPC had 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 remains committed to operating in compliance with the laws of Nigeria,” she said.
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