The Federal Competition and Consumer Protection Commission (FCCPC) has filed a lawsuit against British American Tobacco (BAT) in Nigeria and companies affiliated with it for $110 million for numerous violations of the FCCPC Act, the National Tobacco Control Act, and other legal instruments.
The commission released a statement on X, formerly Twitter, clarifying that the fine was determined through mutual engagement with BAT under the FCCPC’s Cooperation/Assistance Rules and Procedure (CARP) 2021. The framework is believed to offer potential benefits like reduced penalties and waivers of specific regulations for companies willing to cooperate.
The Statement Reads,
- In the resolution of an investigation over a broad range of anticompetitive conduct, including abuse of dominance, seeking to frustrate competitors, penalizing retailers for providing equal platforms for product display of competitors, product introduction in violation of regulations, among others, & infringement of public health control regulations British American Tobacco & FCCPC entered into a consent order including a penalty of $110 Million during 2023.
The BAT parties will also provide written assurances to the Commission per Section 153 of the FCCPA. In exchange for fulfilling their obligations under the Consent Order, the Commission has withdrawn pending criminal charges against BAT Nigeria and one employee for obstructing the execution of a search warrant and an initial lack of cooperation during the investigation.
The FCCPC’s investigation, initiated on August 28, 2020, was prompted by credible information and intelligence warranting further inquiry. After obtaining a search warrant from the Federal High Court, the Commission executed simultaneous searches at multiple BAT locations and a service provider’s location on January 25, 2021.
Read more: https://www.investingport.com/fccpc...-tobacco-110-million-for-numerous-violations/