This study describes the effect of conductivity on the electrorheological (ER) behavior of anisotropic particle suspensions. Anisotropic microparticles were prepared by two-step seeded polymerization. To control the particle conductivity, functionalized multi-wall carbon nanotubes were coated on the particle surface $via$ a layer-by-layer (LBL) method. Particle conductivity increased with layer numbers and the yield stress of the fluids increased with increasing electric field strength. However, the yield stress decreased when suspended particle conductivity increased. Although high conductivity allowed high particle polarization ability, field-induced ER fluid viscoelastic properties decreased.