Following the COVID-19 pandemic, many people sought refuge in various “investment” schemes as a means of being better prepared for an uncertain future.


SOURCE
https://naijaphilia.com/blog/2024/03/06/crime-list-of-agric-ponzi-schemes/

In Nigeria, many of such Agriculture related investment opportunities sprang up, promising enticing rates of returns as high as 25% to 100% per annum – or even more!



https://naijaphilia.com/blog/2024/03/06/crime-list-of-agric-ponzi-schemes/

Unfortunately, many of these so-called “Agrotech” schemes have failed to deliver on their promises, and those who invested in them have found that their money is “gone with the wind”.



https://naijaphilia.com/blog/2024/03/06/crime-list-of-agric-ponzi-schemes/

Some of the platforms may have started with genuine intentions but eventually got overtaken by poor management, negative effects of the pandemic, or sheer greed, as the case may be.



https://naijaphilia.com/blog/2024/03/06/crime-list-of-agric-ponzi-schemes/

Below is a sample list of 35 such schemes, arranged in alphabetical order:

Agrilet
Agrorite
Bazuze
Ceepass
Chinmark Ventures
Crowdyvest
Eatrich
Emerald Farms
Farm Agric
Farm Power
Farm4Me
Farmcrowdy
Farmforte Food Valley
Farminvest
Farmkonnect
Farmsby
Farmsponsor
Foxygreen Agro Enterprise
Goldvest
Groupfarma
HoCorn
Jadek farms
Menorah Farms
Ovaioza Warehouse
Payfarmer
Plethora Farms
Porkmoney
Porkvest
Requid
SGL Farms
Shopagric
Thrive Agric
Titan Farms
Vestpay
ViableX



https://naijaphilia.com/blog/2024/03/06/crime-list-of-agric-ponzi-schemes/

Whereas many of the promoters of these “ventures” have been arrested by law-enforcement agencies, many others are on the run, while their investors are left with losses and regrets.


https://naijaphilia.com/blog/2024/03/06/crime-list-of-agric-ponzi-schemes/

This is a surprise to me... I thought some of these platforms were genuine.

NaijaphiliaBlog:
Below is a sample list of 35 such schemes, arranged in alphabetical order:

Agrilet
Agrorite
Bazuze
Ceepass
Chinmark Ventures
Crowdyvest
Eatrich
Emerald Farms
Farm Agric
Farm Power
Farm4Me
Farmcrowdy
Farmforte Food Valley
Farminvest
Farmkonnect
Farmsby
Farmsponsor
Foxygreen Agro Enterprise
Goldvest
Groupfarma
HoCorn
Jadek farms
Menorah Farms
Ovaioza Warehouse
Payfarmer
Plethora Farms
Porkmoney
Porkvest
Requid
SGL Farms
Shopagric
Thrive Agric
Titan Farms
Vestpay
ViableX



https://naijaphilia.com/blog/2024/03/06/crime-list-of-agric-ponzi-schemes/

DaleMcWayne:
This is a surprise to me... I thought some of these platforms were genuine.

Some were actually paying consistently, until they were overtaken by factors beyond their control.

NigeriaMustFly:


Some were actually paying consistently, until they were overtaken by factors beyond their control.

There's no way they wouldn't fold up with such huge interest payments. Not also forgetting the short tenor of the placements by their investors.

Tjra:

There's no way they wouldn't fold up with such huge interest payments. Not also forgetting the short tenor of the placements by their investors.

Yes... some promised 100% interest per annum or more.

Technically, it is possible to make even more than that from Agriculture. However, it is not possible to consistently promise and deliver such returns to tens of thousands of subscribers.

DaleMcWayne:


Yes... some promised 100% interest per annum or more.

Technically, it is possible to make even more than that from Agriculture. However, it is not possible to consistently promise and deliver such returns to tens of thousands of subscribers.

It is possible. Scale up the production to meet up the repayments. I have personally been to farms that received billions. The problem why they do not repay is the same everywhere. They channeled the money for production to other needs and lavish lifestyles rather than work

FarmPlanetNG:




It is possible. Scale up the production to meet up the repayments. I have personally been to farms that received billions. The problem why they do not repay is the same everywhere. They channeled the money for production to other needs and lavish lifestyles rather than work

You are quite right.

Afterall, a country like The Netherlands, with less than 5% Nigeria's landmass and just about 8% of our population, generates $94 billion annually in Agric exports - second globally only to the USA!

The reasons our Agric platforms mischannelled the monies collected include:

- Lack of structure
- Inexperience
- Poor money management skills
- Greed
etc

Innocent investors are now left high and dry!