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My Nasty Experience In Doing Business With Planet One By Eric Nwoko - Business - Nairaland

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My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Tgirl4real(f): 2:23pm On May 25, 2015
This is rather unfortunate. I wonder how budding entrepreneurs will thrive with this kind of treatment.

Please read and spread the word.

My name is Eric Okechukwu Nwoko and I run Domini Mart, a company that sources and supplies food to players in the hospitality sector, such as hotels and restaurants. In early 2014, I was introduced to Mrs. Anita Momoh, the Executive Director of Procurement of Raw Materials at Planet One by the Head Chef of the same establishment, Gavin Kilowan, who is an acquaintance.

We had a discussion which resulted in Planet One agreeing to place an order, and the terms of supplies and a thirty (30) day payable period was agreed upon. The order was later placed by the Head Chef in conjunction with one Mr. Austin, who is the Inventory and Purchasing Officer for Planet One Limited. This order was subsequently followed by other orders over the period of six weeks from 26th July 2014 to 23rd August 2014. Altogether, the sum total of all the orders comes to One Million, fifty eight thousand, one hundred and forty six naira and seventy five kobo (1,058,146.75) and a summary of the supply transactions is shown in the table below:

Date Amount Invoice Numbers GRN Numbers
7/26/2014 615,053.25 0000150/’0000151/0000152 0005554/0005555/0005556/00055557/00055558/0005559/0005560
8/4/2014 78,540.00 0000154 0005572
8/5/2014 22,740.00 0000160 0005577
8/19/2014 62,611.00 0000208 0005628/0005629
8/19/2014 18,921.00 0000207 0005622
8/20/2014 60,543.00 0000212
8/22/2014 130,200.00 0000215/0000216
8/23/2014 62,338.50 0000217
8/23/2014 7,200.00 0000218


As shown in the table, orders placed between 20th and 23rd of July do not have a Goods Received Note (GRN) from Planet One. This is because Mr. Austin who handled their transactions with me had left and his position was vacant. However, I had still responded to urgent requests for supplies from their Head Chef as they had a buffet dinner event which had already been fully subscribed to from the discount deal site, DealDey.

Prior to delivering the last three orders, I had met Mrs. Momoh and had reminded her of payment for previous supplies, upon which she referred me to the accountant. However, the accountant simply reconciled the accounts with me and referred me back to her. At my next visit, Mrs. Momoh insisted that I wait for one Mrs. Maureen Omokhion who she said was a signatory to the account. However, Mrs. Omokhion failed to show up that day. When I eventually met Mrs. Maureen, she immediately alleged that there was a breach of company purchasing procedure on my part, claiming that the company could not possibly have taken that amount of supplies I delivered, without any thing to show for it in terms of revenue. She made particular emphasis on the first transaction which amounted to over six hundred thousand naira.

I find Mrs Maureen’s claims despicable because she was a part of the company at the time most of these transactions were undertaken and her failure to address any lapses in the system clearly boils down to entrapment. Moreover, the fact that a top level official in the person of Mrs.Momoh would sanction the receipt of goods and then renege at the time of payments is a highly dubious and suggests a knowing ploy to defraud unsuspecting vendors. Mrs.Momoh gave extensive feedback after my first supply bordering on the brand of rice, the specification of tissue paper and even to the need for me to focus on a certain category of raw materials.

Consequently, I decided to investigate the affairs of Planet One, only to discover that the company thrives on some sort of elaborate ponzi scheme owing mind boggling amounts to numerous vendors, staff and even the bank. Messrs Pet Caro is one such victim and would readily corroborate this account as Planet One owes her at least half a million naira. They were quick to resort to the legal system to try and retrieve their money. Three times they appeared in court, and no one from Planet One ever appeared, in clear defiance of judicial powers. This not only demonstrates the weakness of the judicial system, it reinforces my belief and that of many others that justice is only for the influential and affluent.

My decision to cry out to the public is primarily because I want to see an end to the impunity of the kingpins behind this fraudulent organization, to warn others and mostly to attempt rewrite this wrong doing

It is sad and disappointing that an organization like Planet One will renege on its agreements and deny small businesses like Domini Mart their due payment, thus making it harder for them to stay afloat in what is already a tough business environment.

I have attached photo evidence

of the invoices Domini Mart sent to Planet One for the supplies.

My hope is that the public implores Planet One to do the right thing and pay my company what is our due as per our business agreement.

Eric Nwoko

CEO, Domini Mart.
http://abusidiqu.com/my-nasty-experience-in-doing-business-with-planet-one-by-eric-nwoko/?fb_action_ids=10205150475096441&fb_action_types=og.comments

More images are available on the original site.

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Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Tgirl4real(f): 2:24pm On May 25, 2015
@ Mods,

I would appreciate if this can be recommended for the homepage.

#Obinoscopy
#Seun

2 Likes

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by pickabeau1: 2:30pm On May 25, 2015
without a GRN, what is the evidence that goods were delivered

was the waybill signed off

He made a mistake

5 Likes

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Tgirl4real(f): 2:38pm On May 25, 2015
pickabeau1:
without a GRN, what is the evidence that goods were delivered

was the waybill signed off

He made a mistake


I am sure he made a mistake one way or the other but he sure has some documents to back up the transaction. I would recommend he seeks justice through the office of the public defender.

4 Likes 1 Share

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Nobody: 2:43pm On May 25, 2015
I know one thing for sure.. Planet1 is not what she used to be and since 2013.. she has been struggling with regular clientele and growing debts. it

1 Like

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by White007(m): 2:57pm On May 25, 2015
And to think that this is the hotel i always stay when i come to Nigeria, well...

Op, try to resolve your problem amicable and let them know that if this isn't solved amicable, you will take it to the print media. I'm sure they will want to settle you with you ASAP, cuz they won't want to tarnish their reputation.

1 Like 1 Share

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by TopHand: 3:57pm On May 25, 2015
pickabeau1:
without a GRN, what is the evidence that goods were delivered

was the waybill signed off

He made a mistake


His real mistake was agreeing multiple orders even be4 the first payment has been made, I will never do 30 days or monthly payments again it is bad business, you always end up losing money, word to the wise if you ever have to do monthly payments account make sure the amounts are small maximum N250k, if your product is good they will keep placing orders even if they are experiencing cash flow problems

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Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Tgirl4real(f): 4:30pm On May 25, 2015
TopHand:


His real mistake was agreeing multiple orders even be4 the first payment has been made, I will never do 30 days or monthly payments again it is bad business, you always end up losing money, word to the wise if you ever have to do monthly payments account make sure the amounts are small maximum N250k, if your product is good they will keep placing orders even if they are experiencing cash flow problems

Common mistakes enterpreneurs make. These contracts are not easy to come by so guys try to do as much as they can to keep the one they got going.

20 Likes

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by pickabeau1: 4:43pm On May 25, 2015
TopHand:


His real mistake was agreeing multiple orders even be4 the first payment has been made, I will never do 30 days or monthly payments again it is bad business, you always end up losing money, word to the wise if you ever have to do monthly payments account make sure the amounts are small maximum N250k, if your product is good they will keep placing orders even if they are experiencing cash flow problems

yes
that is one mistake but as at now, he does not even have evidence he supplied the goods

2 Likes

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by onosprince(m): 5:40pm On May 25, 2015
Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by leftyansh: 5:43pm On May 25, 2015
he should have agreed on weekly payment....

That's how i roll

3 Likes

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by MKO4ever(m): 5:44pm On May 25, 2015
okay
Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Nicepoker(m): 5:47pm On May 25, 2015
U. Are on planet earth u are doing business with planet one. Why. Anyway try planet two u will get paid
Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by smoothlips(m): 5:47pm On May 25, 2015
Maybe he should contact Linda ikeji her blog has high traffic and she's always looking for something to write...

8 Likes

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Pavore9: 5:48pm On May 25, 2015
Business gone wrong.
Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by chronique(m): 5:49pm On May 25, 2015
Not surprised. Planet one has been gradually going down for some time now. They've lost their glory days.
Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by knightsTempler: 5:50pm On May 25, 2015
undecided

16 Likes

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Femistico(m): 5:53pm On May 25, 2015
sorry for that..
Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Nobody: 5:54pm On May 25, 2015
If you are in the sourcing and supply business and have good products/services , then you have no good reason to sell your wares on outright credit .

Either cash and carry ... for purchases between 10 - 100,000 naira

Or confirmed bank cheque / bank draft ( where need for temporary credit is necessary ) for purchases of higher volume , ie : 101,000 - infinity

2 Likes

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Moana(f): 5:56pm On May 25, 2015
Ehn
Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by delishpot: 5:57pm On May 25, 2015
Chei, na wa o. All persons labour just want waste like that?
Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Gopulence: 6:02pm On May 25, 2015
simple business strategies in lay man's language...

I supply you, issue you an invoice, make sure it's signed by the department that collected the order. I do not supply again until you must have cleared your first debts...

I cannot for the life of me keep supplying and supplying 'cos contracts are difficult to come by and not get at least 70%(which should cover cost of purchase, logistics and little profit) of what you owe me initially..

Truth is one does not even learn these simple nitty gritty strategies anywhere. It's innate or take for instance in this kind of situation you learn from experience which can be costly...

2 Likes

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by ZACHIE: 6:17pm On May 25, 2015
That he has no GRN does not invalidate the transaction. He has an LPO.he gave an Invoice.
The accounts department aacknowledged the invoice and added it to their debt profile.
Planet 1 or whatever the ever is their name should pay jorr.
No publicity is by far better than bad publicity.

Time to go badddd

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Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by TRADELYN: 6:25pm On May 25, 2015
grin
First, I like his writing skills (whoever wrote it tried).

Now, to my point:
Smart people, sometimes, make some silly mistakes that they even begin to wonder what went wrong. And the #1 reason for this everywhere is that many human beings lack integrity.

2 Likes

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Spydamannn(m): 6:33pm On May 25, 2015
TopHand:


His real mistake was agreeing multiple orders even be4 the first payment has been made, I will never do 30 days or monthly payments again it is bad business, you always end up losing money, word to the wise if you ever have to do monthly payments account make sure the amounts are small maximum N250k, if your product is good they will keep placing orders even if they are experiencing cash flow problems
I made this kind of mistake too in my business and suffered for it...Not a good way to do business,I will never try it again
Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Ilaje44(m): 6:56pm On May 25, 2015
TRADELYN:
grin
First, I like his writing skills (whoever wrote it tried).

Now to my point:
Smart people, sometimes, make some silly mistakes that they even begin to wonder what went wrong. And the #1 reason for this everywhere is that many human beings lack integrity.

Wrong! Appropriately put, many Nigerians, if not the majority, lack integrity and are greatly dishonest.

1 Like

Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Nobody: 7:43pm On May 25, 2015
hmm... they are poorly managed.
Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by miqos02(m): 8:18pm On May 25, 2015
is planet one owned by a Nigerian or foreigner ?
Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Nobody: 8:30pm On May 25, 2015
Please What exactly did you supplied them?
Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Nobody: 9:09pm On May 25, 2015
God help Us
Re: My Nasty Experience In Doing Business With Planet One By Eric Nwoko by Inoknowbook: 9:44pm On May 25, 2015
Hi, if they fail to pay him eventually, let him get a good lawyer and file a breach of contract suit against them. It might take some time, but he will surely get judgement. A business man must be ready to take cases like this to court, otherwise, people will make a mess of you. For the process to be quicker, ask your lawyer to bring the suit under the undefended list, as I do not see any defense the company has for not paying him. By the way, that the company failed to appear in court in the past, doesn't mean that they're above the law. If they fail to appear, go ahead and pursue the case to its logical conclusion. Your lawyer could bring an application for summary judgment in default of appearance. It is when you now go to levy execution of the judgement that you will be able to determine whether, indeed, they're above the law. For me, I'll rather my opponent do not appear in court as that will make my case easier and faster.

So, let him not lose hope. He should make use of our legal system to get justice. He might in the long run get far more than he's asking them for from the law court.

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