This study examines the organic matter and nutrient levels in soils under a 26-year old cocoa plantation and shifting cultivation farmlands cropped with cassava and maize, in Nigeria. The characteristics of soils under the two contrasting agricultural modes were compared with those of soils under rain forest, in order to infer the differential effects. Relative to the forest levels, the soil organic matter and nutrient levels were not substantially reduced in soils under plantations of cocoa. This is largely because cocoa plantations replicate forest conditions. In contrast, organic matter and nutrient levels were much lower in shifting cultivation farmlands. This is attributable to the fact that the crops of cassava and maize have a low ground cover, they generate relatively small amounts of litter and so do not replicate forest conditions. Measures which might be adopted to conserve soil organic matter and nutrient status during shifting cultivation methods are discussed.