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Foreign Charcoal Buyers Dupe Nigerian Exporters


Read this extract from Cargo Defense Fund....

More Nigerians are falling victims of fraudulent practices of foreign buyers in the international charcoal business, the Cargo Defence Fund (CDF) has reported.
Miss Azuka Ogo, the Secretary of the Fund, disclosed this in an interview with the News Agency of Nigeria (NAN) last week in Lagos.
Ogo said that cases of fraudulent activities received by the CDF had risen from 27 to 32.
 She alleged that outstanding claims owed Nigerian charcoal exporters amounted to more than N97.4 million, excluding interests and damages.
Ogo cautioned Nigerian exporters not to accept hook, line and sinker information received from foreigners who tended to woo them at seminars on international trade.
 She said that the major problem was that Nigerians usually exported their commodities on ``open account’’.
``Open account’’ means trading without a letter of credit which assures the seller of money available for payment by the buyer’s bank.
Ogo said that the Fund needed to seek mediated resolution in line with the best practises in contemporary business relationship to reverse the trend.
 She said that the CDF was ready to take legal action against foreigners who were unwilling to negotiate or were out-rightly fraudulent.
``We request all those involved in this unfair trade to conduct proper due diligence check on their partners including the company’s credit rating before entering into any contract,`` Ogo said.
 The scribe, had on Dec. 21, 2011, alleged at a news conference in Lagos that massive frauds were being perpetrated against Nigerian exporters by charcoal buyers from European countries.
The Fund named the perpetrators as business partners from Germany, Poland Spain and Netherland....

The above problem was as a result of not getting the proper knowledge about charcoal export business and also getting the wrong contracts. Most exporters do not have proper knowledge of handling and investigating their buyers before entering into agreements and some do not know how to carry out their investigation. Some believe in just getting a contract and rushing blindly to execute it.

At TOSFAT Concepts, we train new and existing exporters on the proper procedures of getting credible buyers and also the analytical steps in evaluating a prospective buyer. This training can be taken online for those who are on whatsapp, facebook or skype. We also have a special service called, EXPORT CONTRACT AUDIT SOLUTION. With this service we can assist you in investigating a buyer if you already have a contract at hand for a reasonable service charge.

For more information and inquiry:
email: tosfatconcepts@gmail.com
           business@tosfatconcepts.com.ng
Phone: 2348038248222
            2348076000259

To your success!
Gbeke Faith
MD/CEO
TOSFAT Concepts


Comments

  1. Unknown6 November 2014 at 12:41

    In this essay I will consider the social, economic and political factors of businesses in Nigeria. In depth analysis of businesses in Nigeria can be an enriching experience. Until recently considered taboo amongst polite society, it is important to remember that ‘what goes up must come down

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