This scam has been operating around parts of West Africa, as InitRef says, for at least 8 years, if not longer. It has been widely reported in the western broadsheets throughout that period and I doubt that there can be any in the business community who are not aware of it. Perhaps the concept has only just reached Togo.
It is hard to believe anyone could fall for it, but you have to give the originators a few marks for effort!