The British American Tobacco Nigeria (BATN) has formally reacted to the recent $110m fine imposed on it by the Federal Government through the Federal Competition and Consumer Protection Commission (FCCPC).

The FCCPC had in a statement released on Wednesday, December 27, 2023, disclosed that the Commission on August 28, 2020, opened an active investigation of BATN and its affiliates for which it "gathered, received and procured substantial evidence from forensic analysis of electronic communication and other information/data."

The FCCPC stated that its sanctions were determined after careful analysis of the evidence, new articulation submissions from BAT Parties, and correspondence.

A part of the investigation's verdict read as follows: "That BAT Parties shall pay a penalty of $110,000,000 under and pursuant to Section 155 of the FCCPA, Clause 11 of the Federal Competition and Consumer Protection Commission's Administrative Penalties Regulations, 2020 and Clause 4.2 of the Federal Competition and Consumer Protection Commission's Investigative Cooperation/Assistance Rules and Procedures, 2021."

But BATN in a statement yesterday cleared the air on the sanction, disclosing that the payment had since been made.

The statement made available last night said, "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 our 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."