Emmanuel OchayiBabatunde Irukera, CEO of the Federal Competition and Consumer Protection Council (FCCPC), said there is abusive conduct in the marketing activities of British American Tobacco Nigeria Limited, resulting in a steep $110 million fine.
Irukera In an interview with ARISE NEWS on Thursday emphasized the company’s abuse of its dominant position by hindering competitors’ market entry and manipulating government institutions.
Join our WhatsApp ChannelHe cited BAT’s unfair trade practices, training reps to favor their products, and penalizing fair competition, calling such conduct abusive.
Highlighting the investigation that commenced in 2020, Irukera mentioned BAT’s possession of sensitive competitor information, indicating monitoring practices breaching the law.
Explaining BAT’s decision to opt for an administrative route to avoid judicial prosecution, Irukera elaborated on the benefits, including reduced penalties and prosecutorial discretion, as a result of their cooperation.
Addressing the rationale behind the penalties, Irukera emphasized the adverse impact on consumers and potential investors caused by market distortion.
He underscored the need to deter malpractice, ensuring it’s financially unfavorable for companies to repeat such behavior.
Moreover, he emphasized the importance of stringent penalties to prevent future misconduct and provide a fair playing field for potential market entrants.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
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