Rayfield Saves Foreign Coy From Fraudsters

An attempt to defraud a Swedish company was foiled when Rayfield conducted due diligence

on a purported contract for the sum of US$4.9m. Investigations revealed that the signatures of the Directors were forged and no such contract existed. The Head of Legal Services of the Government

Agency, who purportedly awarded the contract, informed Rayfield that no such contract was awarded. The Head of Procurement of the Government Agency, whose signature appeared on the Letter of Award, denied his signature.

Rayfield has accordingly warned its clients and other companies seeking to do business in Nigeria to carry out proper due diligence. It is advisable to also do a thorough background checks on the individuals involved in the business.