BATN Pays $110 Million Fine to Nigerian Government

BAT by 2FIRSTS.ai
Dec.29.2023
BATN Pays $110 Million Fine to Nigerian Government
BATN, a subsidiary of British American Tobacco, has paid a $110 million fine to the Nigerian government, according to a statement.

According to a report by Dailytrust on December 28th, British American Tobacco Nigeria (BATN) issued a statement stating that they have paid a government fine of $110 million.

 

In a previous statement, the FCCPC revealed that it has been conducting an investigation into British American Tobacco and its affiliated companies since August 28, 2020. The committee has gathered substantial evidence from the analysis of electronic communications and other information/data.

 

The findings of the investigation are as follows:

 

According to Section 155 of the FCCPA, as well as Article 11 of the 2020 Federal Trade Commission's administrative fine regulations and Article 4.2 of the 2021 Federal Trade Commission's investigation cooperation/assistance rules and procedures, stakeholders in the British American Tobacco industry are required to pay a fine of $110 million.

 

However, the British American Tobacco company responded to this incident in a statement, revealing that the fine has already been paid.

 

The statement indicates that British American Tobacco disclosed the investigation mentioned by the FCCPC in its annual report for 2022 and the recent semi-annual report as of June 30, 2023. In December 2022, an agreement was reached between the FCCPC and the company regarding the investigation and associated procedures, leading to the termination of the aforementioned investigation and procedures. The company has duly paid the corresponding fines.

 

British American Tobacco has admitted to the mentioned supervision and promotional activities, and has engaged in comprehensive cooperation with the service provider designated by the Federal Competition and Consumer Protection Commission. Furthermore, the company has committed to complying with Nigerian laws.

 

Notice

1. This article is provided exclusively for professional research purposes related to industry, technology and policy. Any reference to brands or products is made solely for the purpose of objective description and does not constitute an endorsement, recommendation, or promotion of any brand or product.

2. The use of nicotine products, including but not limited to cigarettes, e-cigarettes, and heated tobacco products, is associated with significant health risks. Users are required to comply with all relevant laws and regulations in their respective jurisdictions.

3. This article is strictly restricted from being accessed or viewed by individuals under the legal age.

Copyright

This article is either an original work by 2Firsts or a reproduction from third-party sources with the original source clearly indicated. The copyright and usage rights of this article belong to 2Firsts or the original source. Unauthorized reproduction, distribution, or any other unauthorized use of this article by any entity or individual is strictly prohibited. Violators will be held legally responsible. For copyright-related matters, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have utilized AI to enhance translation and editing efficiency. However, due to technical limitations, errors may occur. Readers are advised to refer to the sources provided for more accurate information.

This article should not be used as a basis for any investment decisions or advice, and 2Firsts assumes no direct or indirect liability for any errors in the content.

Malaysia’s Negeri Sembilan May Ban E-Cigarettes Pending State Council Review
Malaysia’s Negeri Sembilan May Ban E-Cigarettes Pending State Council Review
Negeri Sembilan may impose a state-wide e-cigarette ban, with Chief Minister Aminuddin backing the Malaysian Medical Association’s call and referring the proposal to the state executive council.
May.22 by 2FIRSTS.ai
UK Disposable Vape Ban Spurs Stockpiling and Black Market Concerns
UK Disposable Vape Ban Spurs Stockpiling and Black Market Concerns
The UK is set to ban the sale of disposable vapes starting June 1, but surveys show that 82% of disposable vape users plan to stock up before the ban takes effect, while 34% say they would consider buying illicit disposable products.
May.19 by 2FIRSTS.ai
Texas Proposal to Ban Disguised E-cigarette Sales for Youth
Texas Proposal to Ban Disguised E-cigarette Sales for Youth
Texas proposal to ban disguised e-cigarette sales targets underage users, aiming to protect minors from harmful vaping products.
Apr.17 by 2FIRSTS.ai
GEEKBAR Launches Pod Vape with Display Screen: Dual Compatibility for Ceramic & Mesh Coils
GEEKBAR Launches Pod Vape with Display Screen: Dual Compatibility for Ceramic & Mesh Coils
GEEKBAR has introduced two new refillable pod vapes, the Visionmax and Visioneco, both featuring built-in screens and a 1,200-puff capacity. The Visionmax model includes a touchscreen interface, while the Visioneco is equipped with a smaller display. Designed for versatility, both devices support interchangeable ceramic coils and mesh coils, catering to diverse user preferences.
Apr.25 by 2FIRSTS.ai
ALP Partners with Nicokick and Northerner for Online Sales
ALP Partners with Nicokick and Northerner for Online Sales
Nicokick and Northerner sign one-year partnership agreement with ALP, offering nicotine pouches with discounts. (19 words)
Apr.08 by 2FIRSTS.ai
Thailand's Education Ministry Enforces School E-Cigarette Ban Amid Rising Youth Vaping Concerns
Thailand's Education Ministry Enforces School E-Cigarette Ban Amid Rising Youth Vaping Concerns
Thailand's Ministry of Education has announced a comprehensive ban on e-cigarettes within all educational institutions and government agencies, responding to a significant increase in youth vaping rates. The measures include the establishment of "No E-Cigarette Zones," enhanced enforcement protocols, and educational campaigns to raise awareness about the health risks associated with e-cigarette use.
May.09 by 2FIRSTS.ai