Nairaland has been filled with messages for and against the subject of whether or not Viable X, Ceepass and Farm4Me are scams.

I took my time to read the different posts/comments and all the insults (very common with Nairaland), and as a Digital Investor and Startup enthusiast, I needed to give clarity to this issue.

Technology has brought about innovations in Agriculture and farming, and now we have Agritech companies or digital agriculture investment companies.

This sector is still new and growing, hence there are lots of challenges, and of course many fakes and scams will jump onto the trend. That notwithstanding, the truth is the fact that there are scams or fakes only goes to prove that there are some real Digital Agriculture Investment Platforms.

Let me ask you a question: Have you ever seen a fake ₦5,000 naira note? Think!

Of course, the answer is no. But why is that? You can’t see a fake ₦5,000 naira note because the original does not exist.

So, the existence of the fake, is a proof to the fact that the real or original exist. Likewise, the existence of fake Digital Agriculture Investment Platforms is proof that the real and genuine ones exist, even though they would still experience challenges ones in a while.

So, now the question is, are Viable X, Ceepass and Farm4Me part of the fakes or the real?

In answering this question, I will give some basic facts that will help us in our judgement.

Come with me!

Are these Companies licensed or registered?

i. Ceepass Digital Bank is operating under a CBN-licensed Microfinance Bank, Jamis Microfinance Bank, and their online savings are insured by the Nigeria Deposit Insurance Corporation (NDIC), just like your conventional banks.

ii. Ceepass has partnerships with Monnify/TeamApt, a multimillion dollar Startup in Nigeria that will soon become the next Nigerian unicorn (startups with $1 billion dollars valuation) with their forthcoming funding round. Ceepass funds transfer is proceed via TeamApt's Monnify infrastructure.

iii. Farm4Me Farmer loans and Contract farming are powered by Jamis Microfinance Bank, a CBN-licensed Microfinance Bank.

iv. All Farm4Me farms are insured by Leadway Assurance.

To verify:

1. Visit Leadway Assurance website here: https://www.leadway.com/

2. Scroll to the bottom of the website and click on "Agri-Tech Partnerships (https://www.leadway.com/agric-tech-partnerships/)

3. Type the name of the Digital Farming company in the search box at the top of that web page.

This was how i searched for ViableX and its sister company, Farm4Me, and found out that all Farm4Me & Viable X farms are insured by Leadway Assurance under the name, Viable X Agribusiness Limited.

You can do the search yourself following the guide above.

v. ViableX is licensed by the Nigeria Export Promotion Council (NEPC), and the export financing is controlled by Jamis Microfinance Bank Limited.

And all these are verifiable.

Now, can we call a set of companies with all these licenses, insurance policies and partnerships scams? Nah, I don’t think so!

As a Digital Investor, I am comfortable with these guys (Viable X, Ceepass and Farm4Me), and as a Startup enthusiast, I will continue to do my research and defend Digital Agriculture Investment Platforms and other startups that are genuine and trying to do good in this country.



(C) Donald Yusuf
Digital Investor & Entrepreneur

So these three platforms are legit

Una eyes go soon clear.

Samken2:
So these three platforms are legit

Yes, they are. You can still do your own research if you are not convinced. If you are in Lagos or Abuja, you can visit their office.

tuna85:
Una eyes go soon clear.

When our eyes have been clear since 2019 when they started?

DonaldYusuf:


When our eyes have been clear since 2019 when they started?

Continue

They haven't paid any matured investment since the end of September. Me, friends and family have millions that are supposed to have been paid by now. Lol
It's I'm the wallet, you can see it but good luck transferring it out. One story or the other. Now there's no story anymore. They've just gone radio silent. You send emails and get no reply. You message their whatsapp number and get no reply.
So, in my opinion I'd say it's a scam.
Very big scam. Invest at your own detriment.

Don’t mind the DonaldYusuf guy. He’s one of the paid men of Adama. He has just been going round to defend the company with baseless trash without investing a dime. Real people haven’t been paid their money for over 4 months till date and no response. What sort of technical payment takes that long?
For anyone who wishes to listen, Viablex and co have paid in the past but are defaulting now. Don’t invest now in Viablex, CeePass, Farm4me or any Agritech platform until you can guarantee that all their issues and debts are sorted. If not, na your money dem go use hold body.