It is serious, the yield from the farm might be poor. I remember how some group of people wanted to coerced me to run such venture because I run a farm.

What I see are desperate wannabe farmers, I told them why such Agritech venture is not sustainable and that agriculture is not a business that will turn you a millionaire in a season.

Yoruba self

Agriculture cannot by its nature make ROI at the level people were expecting.

As one nairalander said it..anything can happen. Crops fail, herdsmen cows eat the crops, animals die, animals fall sick, yield not as high as usual, yield too high , prices not favorable.

Just another ponzi scheme masquerading as investment

In fact, Nigeria is not safe again. Yesterday, I saw an advertisement on Facebook about the fixed match of pay after match. I then dropped my mobile number just to try if it will be real make man chop free money. I woke up this morning to see nothing less than 48 guys sending messages about fixed games. Some were even giving me pseudo websites to log into. I was scared to the marrow that our guys are all in this scamming stuffs. I have to block them all cos I was scared.

ecomalchemist:


wow, I haven't heard from farmcrowdy in while too.

Seems most of the agritech startups are fraudulent schemes in disguise, better safe than sorry.

That's why they never attract Western VCs. They should stop collecting people's money abeg.

Any Agro investment or farmers asking multiple people to invest money in their farming business and get interests in so so months is a grand criminal

Genuine investment farmers have access to loans, they will not generate funds from masses to pay ROI which is difficult to manage and carry out and which will even also reduce their turn over profits.

They are scams.

Chai! Which kind line Agro partnership no give me say make I invest, but I no gree! Oluwa thank God oh

My advise to anyone in Nigeria right now is not to invest in any business no matter how juicy the return on investment looks, whatever gave you the capital in the first place should be re-invested into.

I am tired of hearing all this news from
*MBA Forex*
*Brisk Capital Limited*
*Addy Finance and Investment*
*Helping Hands Investment Scheme*
E.t.c

My advise to you is that all investment packages in Nigeria at the moment are SCAM

I think agric biz is the new scam now, not forex and the rest. Same with FarmKonnect, pls anything investment in this Nigeria, make una no involve, there is no solid structure on ground to bring these scoundrels to book, they do these with uttermost impunity. Na so FarmKonnect collect my money Dey tell me Coronavirus affected them as if it wasn’t during Corona I invested my money.

Don’t invest in anything you don’t or can’t control

Especially all these agric funds

Run away


Go and farm yourself and get an agric loan after some years for yourself for expansion

Local man is not surprised again

AgroTech... The New Yahoo Yahoo platform.

ecomalchemist:
Seems agritech startups are fraudulent schemes these days, wo...make I use my money drink trophy , eat goat meat.

Na who get money dey invest !

Agro tech og
Forex oh
Anything you don't trade or manage by yourself
Run
If you no sabi wetin to trade at least learn copy trading

JohnBullMySon:
That's why they never attract Western VCs. They should stop collecting people's money abeg.

Farm crowdy did attract in their early days

Guyman02:
People continue to fall for this easy scam.
What they do is to acquire a single farm land, plant rice or corn or fish and poultry worth for example N10m, they show their mumu subscribers this one farm and tell them that they have something similar in Kafanchan, Kebbi, Shiroro etc with beautiful pictures in their website and brochures.
They will use this single farm valued at N10M to get N500M from 'investors' who will be paid huge interest by Ponzi scheme from the monies of the new entrants until the bubble will burst when the Ponzi reaches its peak.
The farm will quickly be sold to a buyer with all the documents and everyone disappears only to return with a new name in another location but if the money fleeced is huge they relocate to abroad with their families

so use this methods to defraud banks too.....they get a land that the owner wants to see for say 10mill, they get Al these valuers and value the land for 100 mil, they go to bank collect loan for land of 100 mil, pay 10 Mill to owner a d pocket 90 mil.

Zico5:
In fact, Nigeria is not safe again. Yesterday, I saw an advertisement on Facebook about the fixed match of pay after match. I then dropped my mobile number just to try if it will be real make man chop free money. I woke up this morning to see nothing less than 48 guys sending messages about fixed games. Some were even giving me pseudo websites to log into. I was scared to the marrow that our guys are all in this scamming stuffs. I have to block them all cos I was scared.

Posted my number on Nairaland and scammers were sending me messages. If someone somewhere is not falling for these tricks, they wouldn't be doing it, their are people that fall for the simplest scam format.

SincereBigot:
i dont understand why some Nigerians feel someone will be working for them and giving them return on investment

why cant he plant the corn for himself and make all the profit? ok so you will be at your house sleeping and you expect a nigerian to be trading forex for you or planting corn for you or rearing goats for you just to give you return on investments? as per say na ur papa abi

una go soon learn

There's nothing wrong in investing and going to sleep. It's just the number of fraudulent schemes out there with no regulation whatsoever.

Mugu and Maga will never cease to exist as long as Nigeria remains.

Somebody.say you should invest in maize and you put N1m. You failed to consider what can happen to the plantation from planting till havesting.
Someone say you will get 30 percent ROI and you believe him.

You yourself you are a big thief.

lookingfly:
so use this methods to defraud banks too.....they get a land that the owner wants to see for say 10mill, they get Al these valuers and value the land for 100 mil, they go to bank collect loan for land of 100 mil, pay 10 Mill to owner a d pocket 90 mil.

No bank will give you a loan of 100 mil without getting it's valuers involved. The will never rely on just any valuation.
Nigerian banks are not as daft as people think.

The funny thing here is that there is no farm...na online farm format..this guy is smart..so nigerians still fall for this cheap scam.i need to open one ponzi
.maybe a taxing ponzi with ROI of 60 percent

masseratti:
30% roi on agricultural investments is impossible, why are this guys this way for God's sake.

My thoughts exactly. Just too outrageous....like a whopping 30% Lon lon

There are many of them nowadays scamming Nigerians. One of them is Ayanso MMA of themap NG. That guy is heartless and rude.

I have learnt the hard way never to put any money in business, investments etc in naija except I have some sort of control. (Advice given to me personally by late Capt Hosa okumbo).
Rather put your money in the bank and be looking at it or spend it, eat it and know it entered your belle and you shat it out.

JohnBullMySon:
Agtech companies are just crumbling like ponzi. First was ThriveAgric then this.

and who gave u d notion that these companies actually had farms if yes where are d farms located these are basic things u should research on before investing but nigerians are too dull and lazy so they keep falling for cheap scams

masseratti:
30% roi on agricultural investments is impossible, why are this guys this way for God's sake.

For nine months na

The idiot that gave someone 2million to help him trade is actually a dumb asss..if you invest on knowledge first...then go into snail production with that 2m..in 2 years u will have 6m...even cucumber self..serves him right..before u waste money look for people who are doing that biz..pay them for info...pls let's stop these online investment we are killing ourselves

#nogofallmaga, an initiative of the Cybersafe Foundation, has written a comprehensive expose on these agric scams a while ago. Please search for it online and get an idea about how these guys operate. Their modus operandi are often similar or same.

osazsky:
and who gave u d notion that these companies actually had farms if yes where are d farms located these are basic things u should research on before investing but nigerians are too dull and lazy so they keep falling for cheap scams

I didn't invest in them

Any investment guaranteeing anything is a scam. You are to share proceeds of investment based on performance and ratio

masseratti:
30% roi on agricultural investments is impossible, why are this guys this way for God's sake.

For a 9 months period Shldnt be too much... the 30% isn’t monthly ...

U invested a million somewhere for 9 months and ure saying 300k interest isn’t realistic ? Haba

Na them them (Afonja) let them continue that's their way of life.

On other note who on God's green earth would invest with someone looking like this and also a Yoruba person. Hahahaha chai Nigerians are too dumb