British American Tobacco (BAT) says it remains committed to operate in compliance with Nigerian laws.
BAT made the commitment in a statement while responding to the $110 million fine levied on the company by the Federal Competition and Consumer Protection Commission (FCCPC).
The statement said that BAT previously disclosed the investigation mentioned by the FCCPC in its year-end 2022 Annual Report and most recently in its Half-Year Report for the six months to 30 June 2023.
According to it, the FCCPC had In December 2022, 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,” the statement added.
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