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Sunday, 13 August 2017

National Assembly: BAT replies Senate over 'missing' N30trn

Nigerian Senate

The BAT has responded to the summons by the Senate Committee on Customs and Excise and Tariff over missing N30trillion.

The British American Tobacco Nigeria has replied to the summon by the Senate Joint Committee on Customs, Excise and Tariff and Marine Transport on July 31, 2017.

In a recent statement by the company's Legal and external director, Freddy Messanvi, the BATN said it has officially began communicating with the senate Committee in order to comply with the invitation and regulations.

"On the 31st of July, 2017, we received a letter inviting us to appear before the Senate Committee in relation to allegations of involvement in the N30 trillion revenue believed to have been lost within the import and export value chain.

"British American Tobacco Nigeria (BATN), as a responsible company, has since been officially communicating with the Senate committee in order to comply with their invitation and regulations to ensure a resolution of the issue through extensive engagements, verification and reconciliation exercises.

"Over the years, British American Tobacco Nigeria has always maintained a healthy relationship with government agencies, including customs. In 2016, Nigerian Customs service commended the British American Tobacco Nigeria for its contributions to Nigeria’s treasury. 

ALSO READ: Senate orders arrest of Globacom CEO, 29 others over 'missing' N30trn

"We also have a history of ensuring 100% custom duty payments are disbursed on time and in full to secure an incessant flow of required materials. We also ensure we abide by Central Bank of Nigeria and Customs guidelines in relation to import and export processes as required and demanded by the law.

"We appreciate the efforts of the government to block all revenue leaks and as good corporate citizens we will continue to comply with the Nigerian regulations. We also intend to work with the government, within the confines of applicable laws, to create an environment where businesses will thrive and harness amicable working relationships through constructive discussions and engagements to ensure Nigeria remains attractive for foreign direct investments in the long run." 

On Friday, August 4, 2017 the Committee had summoned the CEO of BATN alongside 29 other companies' CEOs.



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