According to a report from Osundefender, President Bola Tinubu of Nigeria has announced his decision to dismiss Babatunde Irukera, the Executive Vice Chairman/CEO of the Federal Competition and Consumer Protection Commission (FCCPC).
Iluka was appointed as the Chief Guiding Officer of the Consumer Protection Committee (CPC) in April 2017. Following the transformation of the CPC into the Federal Competition and Consumer Protection Committee in December 2019, Iluka assumed the role of Executive Vice Chairman.
This dismissal was announced in a statement signed by the Presidential spokesman, Ajuri Ngelale, on Monday evening.
Last month, Babatunde Irukera, head of the Federal Competition and Consumer Protection Commission (FCCPC), imposed a fine of $110 million on British American Tobacco (BAT) in Nigeria, accusing them of abusing their dominant position in the Nigerian market, including violations of public health regulations.
The Nigerian anti-monopoly agency announced that the fine was imposed after a three-year investigation into the activities of tobacco manufacturers.
According to reports, the FCCPC has stated that British American Tobacco will be required to undergo a 24-month compliance and supervision period to ensure adherence to proper behavior and business practices.
British American Tobacco, widely recognized for its numerous tobacco brands, has recently come under scrutiny for reportedly punishing retailers who offer a fair platform to their competitors' products.
The Nigerian antitrust agency has announced a fine in relation to the actions of tobacco manufacturers following a three-year investigation. According to local media reports, the company referenced this investigation in its annual report for 2022.
The Federal Competition and Consumer Protection Commission (FCCPC) has announced that British American Tobacco will be subject to regulatory oversight over the course of 24 months to ensure their compliance with appropriate conduct and business rules. They have also been instructed to establish necessary connections with public health and tobacco control initiatives, in accordance with relevant regulations.
Irukera expressed appreciation for the opportunity to serve the vibrant and loyal Nigerian consumers. "They deserve better treatment. I have left behind a strong advocacy institution at FCCPC, as well as an exceptional team that works tirelessly for the cause of fair markets," he stated.
In a parallel development, President Tinubu has also sacked the President and CEO of the Bureau of Public Enterprises (BPE), Alexander Okoh, who was appointed alongside Irukera in 2017.
Englerai stated that the two dismissals would take immediate effect.
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