BTI - Nigerian Watchdog Hits British American Tobacco With Record $110M Fine Over Alleged Market Abuse | Benzinga
Wednesday, the Nigerian Federal Competition & Consumer Protection Commission (FCCPC) imposed a $110 million fine on British American Tobacco Industries Plc (NYSE: BTI) due to infringement of competition laws/regulations and tobacco control efforts.
The penalty stems from a probe into BAT's practices, including allegations of impeding competitors and breaching public health controls.
The fine is the highest ever levied by the Nigerian Competition Commission. FCCPC Chief Executive Babatunde Irukera told Reuters that ...