...pledges to operate in full compliance with Nigeria laws
ZAINAB JUNAID
Following recent reports regarding the Federal Competition and Consumer Protection Commission (FCCPC) decision on $110 million fine placed on British American Tobacco Nigeria (BATN), the company has clarified that it never had the intention of violating the laws of the land as it pledged to operate in full compliance with the laws of Nigeria.
BAT maintained that the said fine had been previously disclosed in its financial reports and it's not a new development.
The company on Friday December 29, 2023, affirmed that "BAT previously disclosed the investigation mentioned by the Nigerian Federal Competition and Consumer Protection Commission (FCCPC) in its year-end 2022 Annual Report and most recently in it's Half-Year Report for the six months to 30 June 2023.
"In December 2022, the FCCPC entered into a consent order, terminating the mentioned investigation and associated proceedings. British American Tobacco (Nigeria) Limited and British American Tobacco Marketing (Nigeria) Limited have made payments to settle the penalty."
"BAT Nigeria acknowledges the mentioned monitorship and awareness campaigns and has cooperated fully with the FCCPC’s appointed service providers. BAT remains committed to operating in compliance with the laws of Nigeria."
