BAT Committed to Complying with Nigerian Law with $110 million Fine

BAT by 2FIRSTS.ai

Jan.02.2024

BAT Committed to Complying with Nigerian Law with $110 million Fine

British American Tobacco (BAT) reaffirms commitment to comply with Nigerian laws following $110 million fine by FCCPC.

According to a report by Nigeria's The Independent newspaper on December 30th, British American Tobacco (BAT) stated its commitment to consistently abide by the laws and regulations of Nigeria.

BAT has issued a statement in response to the Federal Competition and Consumer Protection Commission (FCCPC) imposing a $110 million fine on the company.

The statement indicates that British American Tobacco (Nigeria) Limited and its marketing subsidiary, British American Tobacco Marketing (Nigeria) Limited, have made arrangements to resolve the fine.

The statement further indicated that BAT has also disclosed the investigation mentioned by FCCPC in its 2022 annual report and the recent mid-year report for 2023.

According to a statement, the FCCPC has signed a consent order in December 2022, effectively concluding the mentioned investigation and related proceedings.

BAT Nigeria has acknowledged the presence of regulatory oversight and public outreach initiatives, and has fully cooperated with the service provider designated by the FCCPC.

British American Tobacco (BAT) affirms its unwavering commitment to abiding by Nigerian laws. This statement concludes as such.

References:

[1] BAT Expresses Commitment To Operate In Compliance With Nigerian Laws

Also Read:

[1] BATN Pays $110 Million Fine to Nigerian Government

[2] VUSE Sets Up First E-cigarette Experience Zone in Macedonia

[3] Nigeria's FCCPC Fines BAT Parties $110 Million for Violations

#Traditional tobacco #Africa #Nigeria #Regulation #British American Tobacco (BAT)

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