Abdulwahab Isa 
…FCCP commends Dangote on $20bn refinery
The Federal Competition and Consumer Protection Commission (FCCPC) has confirmed receipt of a sum of $110 million fine paid as a cost of various infractions by British American Tobacco (BAT).
Outgoing Acting Vice Executive Chairman/Chief Executive Officer of FCCPC, Adamu Abdullahi confirmed payment on Tuesday at a valedictory press conference in Abuja as he formally stepped down for the newly appointed EVC, Mr. Olatunji Bello.
He took over in January 2024 following the disengagement of the Commission’s pioneer head, Babatunde Irukera.
The $110 million fine addresses various violations of the Federal Competition and Consumer Protection Act, the National Tobacco Control Act, and other legal instruments imposed on BAT and its affiliate companies in 2023.
Adamu, who briefed the media on FCCP activities during the short tenure he acted said BAT completed the payment in two instalments, one in January and the other in March 2023.
“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 per cent of the amount, while 60 per cent went to the FCCPC,” Abdullahi stated.
“In this period, we have actively worked to prevent anti-competitive practices, protect consumers, and foster a competitive market,” Abdullahi noted. “Our efforts included enforcing the Federal Competition and Consumer Protection Act (FCCPA), reviewing mergers, conducting investigations, and engaging in consumer and business education.”
He said to address the public’s concerns over rising food prices, the FCCPC implemented measures to curb price gouging and promote fair competition. This included monitoring markets, partnering with stakeholders, enforcing pricing transparency, and taking action against underweight bags of rice, expired goods, cement price hikes, substandard iron rods, and discriminatory practices in some supermarkets.
Abdullahi emphasised the Commission’s dedication to consumer protection, especially in the digital money lending sector.
“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.”
Regarding enforcement, Abdullahi highlighted a landmark judgement by the Federal High Court in Lagos, which convicted 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 FCCPC collaborated with the Nigerian Civil Aviation Authority and initiated investigations into high airfares charged by international airlines, resulting in the release of lower fare inventories that had been blocked due to trapped funds.
He said the Commission also recently imposed a $220 million fine on Meta Platforms Inc. and WhatsApp LLC for discriminatory practices in Nigeria.
He commended Alhaji Aliko Dangote, President of Dangote Industry for establishing the $20 billion refinery and petrol chemical plant in Nigeria despite economic challenges.
He called on other rich Nigerians to emulate him by investing in the nation’s economy aimed at creating jobs and saving foreign exchange from the importation of goods that can be produced in the country.
