Attention: Nigerian Exporters Of Agricultural Commodities

6

If you are an exporter of Nigerian agro commodities, please avoid all Dubai buyers except the ones you have a prior and confirmed relationship with. Even at that, always try to reevaluate your relationship to be sure they have not joined the bad gang. LC used to be the holy grail of international trade with most buyers trying to avoid it because of the cost and the relative protection it affords the sellers, that's not the case with these Dubai buyers anymore. They flaunt LC at the first negotiation thereby sucking you in with this false sense of security. They have found a way to forge and advise LC to our Nigerian banks, our banks usually fall prey to this. Someday, I will find the strength to tell my full story but in the meantime avoid any LC advised through any non descript bank or financial entity especially from far flung countries like Australia and New Zealand. Treat every Dubai request as you would treat those emails with request for BVN. My two cents

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