Consumer protection orders British American Tobacco to pay $110 million fine or exit Nigeria

0
71
Consumer protection orders British American Tobacco to pay $110million fine or exit Nigeria

Consumer protection orders British American Tobacco to pay $110 million fine or exit Nigeria

The Federal Competition and Consumer Protection Commission (FCCPC) has instructed British American Tobacco Nigeria Limited (BATN) and its affiliated companies to pay a $110 million (N132,000,000,000) penalty for multiple violations, as announced on Wednesday by Gloria Lamar Johnson.

According to a statement, the affiliated companies found in contravention of the laws include British American Tobacco Marketing (Nigeria) Limited (BATMN), British American Tobacco Plc, and British American Tobacco (Holdings) Limited.

This decision comes after an investigation initiated on 28 August 2020, following a court-issued order and warrant of search and seizure.

The FCCPC stated, “Substantial evidence, including forensic analysis and testimonies, revealed several violations, and BAT parties cooperated under the commission’s Cooperation/Assistance Rules & Procedure, 2021.”

READ ALSO: Panadol manufacturer GSK to exit Nigeria after 51 years of operations

“The Commission gathered, received, and procured substantial evidence from forensic analysis of electronic communications and other information/data obtained during the search, as well as other evidence procured during, and after the search from other legitimate sources.”

It further noted that BAT Parties sought cooperation under the Cooperation/Assistance Rules & Procedure, 2021 (CARP), leading to benefits such as possible reduced monetary penalties, waiver of the application of the Commission’s Administrative Penalties Regulations 2020, and prosecutorial discretion.

The Commission withdrew outstanding criminal charges against BATN and at least one employee for attempting to impede an inquiry.

The statement concluded that after reviewing evidence and cooperation, the FCCPC and BAT Parties closed the investigation through a consent order, with BAT Parties agreeing to a $110 million penalty, subject to 24-month compliance monitoring.

Follow the Neptune Prime channel on WhatsApp: https://whatsapp.com/channel/0029Va74ZvU2v1IqKByXoX3d

Do you have breaking news, interview request, opinion, suggestion, or want your event covered? Email us at neptuneprime2233@gmail.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here