The authors of numerous measurements of conductivity for suspensions of nanoparticles of various types carried out in the last decade came to the general conclusion that the well-known Maxwell’s theory is not applicable to quantitative explanation of the properties of such systems. In the present work, we demonstrate that the Maxwell’s theory can be still applicable even for such systems, but the specifics of the standard ac measurements have to be correctly taken into account. Namely, the dependence of the capacitance of “metal–electrolyte” cuvette boundaries on nanoparticle adsorption, which in its turn dramatically depends on nanoparticle concentration, has to be taken into account. The latter circumstance strongly (via the RC characteristic of the circuit) affects the results of conductivity measurements. We propose the new algorithm of the impedance measurement data analysis for the particles’ concentration dependence of conductivity σ(ϕ) (where ϕ is the volume fraction of nanoparticles in suspension) for the suspensions of the diamante nanoparticles in alcohol which demonstrates the adequate correspondence of the Maxwell’s theory to the available experimental findings.