Nigeria’s president fires FCCPC CEO, fined British American Tobacco $110 million

Nigeria’s president fires FCCPC CEO, fined British American Tobacco $110 million

According to Osundefender, Nigeria’s President Bola Tinubu said he has decided to sack Babatunde Irukera, Executive Vice Chairman and Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC). ).

Ilukla was appointed as the General Director of the Consumer Protection Commission (CPC) in April 2017. After the CPC was transformed into the Federal Competition and Consumer Protection Commission in December 2019, Illukla became executive deputy chairman.

The dismissal was announced in a statement signed by presidential spokesman Ajuri Ngelale on Monday night.

Last month, Irukla, who is in charge of the FCCPC, fined British American Tobacco's Nigerian branch $110 million for their alleged abuse of their dominant position in the Nigerian market, including violations of public health regulations.

The Nigeria Antitrust Authority said the fine followed a three-year investigation into the tobacco manufacturer's conduct.

According to reports, the FCCPC said that British American Tobacco will need to accept compliance and supervision to ensure compliance with appropriate conduct and business practices for up to 24 months.

British American Tobacco, known for its many tobacco brands, has also been found to punish retailers who provide a fair platform for rival products.

The Nigeria Antitrust Authority said the fine follows a three-year investigation into the tobacco manufacturer's conduct. Local media learned that the company mentioned the investigation in its 2022 annual report.

The FCCPC said that British American Tobacco will be subject to supervision within 24 months to ensure that they effectively comply with appropriate conduct and business rules. At the same time, they are required to have the necessary links with public health and tobacco control initiatives in accordance with relevant regulations.

Irukla said he was grateful for the opportunity to serve the "dynamic and loyal Nigerian consumer." "They deserve better. I left behind a strong institutional advocate at the FCCPC and a great team that works day in and day out for the cause of fair markets," he said.

Meanwhile, President Tinubu also fired the President and CEO of the Bureau of Public Enterprises (BPE), Alexander Okoh, who was appointed along with Iluukela in 2017.

Nglale said both dismissals were effective immediately.
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