Slaughter and May, Nigerian Firms Guide BAT in $110M Settlement to Stop Criminal Probe
Nigeria's consumer protection agency will now close all investigations and withdraw pending criminal charges against the company.
January 02, 2024 at 05:22 AM
2 minute read
Credit:VlaDee /Adobe Stock
British American Tobacco (BAT) has been fined $110 million as part of a final settlement deal to halt an investigation by Nigeria's consumer protection watchdog with Slaughter and May and other firms taking on advisory roles.
Nigeria's Federal Competition and Consumer Protection Commission (FCCPC), on Wednesday, said it has reached an agreement with the multinational accused of violating the country's Federal Competition and Consumer Protection Act, National Tobacco Control Act and other regulations.
In 2020, the agency opened an investigation into 'anti-competitive conduct' of BAT entities in the country and later filed criminal charges in a Federal High Court.
BAT's alleged misconduct included abuse of dominance, seeking to frustrate competitors, penalising retailers for providing equal platforms for product display of competitors, product introduction in violation of regulations, and infringement of public health control regulations.
According to details of the final settlement, BAT is expected to pay a fine of $110 million to the agency.
In addition, BAT and other affiliates shall be subject to compliance and monitoring for 24 months to ensure that its practices conform with prevailing competition laws and regulations; and tobacco control efforts.
Nigeria's consumer protection agency, in turn, will close all investigations and withdraw pending criminal charges against the company and its affiliates.
Slaughter and May partner Jonathan Cotton and senior counsel Nicholas Querée acted as English law advisers and international coordinating counsel for BAT.
The tobacco company first hired Slaughter and May as its sole legal adviser on a case in 2016, firing Linklaters. It also retained the firm during the U.K.'s Serious Fraud Office (SFO) investigation.
Meanwhile, a tier-1 Nigerian firm, Aluko & Oyebode acted for BAT in Nigeria, while Adewale Olawoyin, the managing partner of Olawoyin & Olawoyin, also advised BAT UK entities.
When contacted for comment, a spokesperson of BAT confirmed that the company has 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," the spokesperson said.
The company also referred to its 2022 annual report where it referenced the investigation with the Nigerian authorities and several litigation cases within and outside the United States.
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