The Federal Competition and Consumer Protection Commission has confirmed that it received in full, the $110 million fine imposed on British American Tobacco Company at the exchange rate as at that time

The Acting Executive Vice Chairman (EVC) of the FCCPC, Dr. Adamu Abdullahi, who gave the confirmation during a Media parley in Abuja of Tuesday, also said that BAT completed the payment in two installments, one in January and the other in March 2023, through the Central Bank of Nigeria.

Abdullahi said the payment was done at the prevailing exchange rate at that time with the Federal Government and the Commission taking their respective shares.

“The full $110 million was paid at the official exchange rate at that time through the Central Bank of Nigeria (CBN). The Federal Government received 40 percent of the aum, while 60 percent went to the FCCPC”.

Dr. Abdullahi, who has been at the helm of affairs of the Commission in acting capacity for seven months reaffirmed the Commission’s dedication to enforcing consumers rights and the Act establishing it.

“In this period, we have actively worked to prevent anti-competitive practices, protect consumers, and foster a competitive market. Our efforts included enforcing the Federal Competition and Consumer Protection Act (FCCPA), reviewing mergers, conducting investigations, and engaging in consumer and business education.

“We are implementing the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending to regulate Digital Money Lenders (DMLs),” he said. “This includes ensuring that all DMLs register with the FCCPC, operate legally, and provide transparent loan terms and conditions without hidden fees.”

Abdullahi described as a landmark, the judgement entered in its favour against Dr. Anuoluwapo Funmilayo Adepoju and MedContour Services Limited for obstructing an FCCPC investigation.

“This judgement strengthened the FCCPC’s authority to investigate consumer rights violations across all sectors, including healthcare,” he added.

He said the Commission is currently investigating Mobile Network Operators( MNOs) and despite resistance by the latter claiming it can only be regulated by the Nigerian Communications Commission, it has been established by all stakeholders it has the power to investigate them, especially where it is established that the rights of consumers have been infringed upon.

He said the Commission also recently imposed a $220 million fine on Meta Platforms Inc. and WhatsApp LLC for discriminatory practices in Nigeria. This he said has earned the Commission an enviable position among several World Consumers regulatory bodies.

The Acting EVC/CE of FCCPC said complaints about poor service delivery by electricity distribution companies (DisCos) is by far the highest category it has received this year and has promptly responded to.

“Consequently, complaints about poor service delivery by electricity distribution companies (DisCos) are by far the highest category of complaints received by FCCPC.

“The most common consumer complaints in the industry include exploitative billing, unlawful disconnection, non-metering of customers, lack of transformers, and other salient issues.

“Given the relevance of electricity as a critical utility, the Commission prioritized intervention in the industry to tackle prevailing issues and improve service delivery by implementing various programmes and initiatives aimed at promoting transparency and accountability in the sector.

“To that end, the Commission, with the support of MacArthur Foundation, hosted two separate Electricity Consumer Complaint Resolution Platforms for four days each in Bauchi and Lagos for consumers under the franchise areas of Jos Electricity Distribution Company and Ikeja Electricity Distribution Company respectively.

He said the events provided the Commission, the electricity distribution companies, the Nigerian Electricity Regulatory Commission (NERC), and the Nigerian Electricity Management Services Agency (NEMSA) the opportunity to provide on-the-spot resolution to electricity consumer complaints.