𝗔𝗻𝗼𝘁𝗵𝗲𝗿 𝗣𝗼𝗻𝘇𝗶 𝗦𝗰𝗵𝗲𝗺𝗲 𝗡𝗥𝗖 𝗥𝗲𝗽𝗼𝗿𝘁𝗲𝗱𝗹𝘆 𝗖𝗿𝗮𝘀𝗵𝗲𝗱
𝗡𝗶𝗴𝗲𝗿 𝗗𝗲𝗹𝘁𝗮, 𝗡𝗶𝗴𝗲𝗿𝗶𝗮.
Another online investment platform identified as National Reading Culture (NRC) has reportedly crashed, leaving thousands of Nigerian users unable to access their funds and sparking widespread outrage on social media.
The platform, which operated through the website nrc.cc, reportedly presented itself as a task-based earning programme where participants paid for VIP packages and completed simple daily reading tasks in exchange for promises of high and guaranteed returns. However, users began raising alarm after they were unable to withdraw their money, while the website became inaccessible.
Many affected users took to Facebook and X (formerly Twitter) to express frustration, with some claiming they invested borrowed funds or their life savings into the scheme.
One user lamented:
"I did it with borrowed money. Now everything is gone."
The platform reportedly launched in 2023 and claimed to have its headquarters in the United States, but there is no evidence that it was registered by Nigerian financial regulators.
The development adds to the growing list of failed Ponzi and task-based investment schemes that have defrauded unsuspecting Nigerians in recent years.
The Securities and Exchange Commission (SEC) has repeatedly warned Nigerians against investing in platforms that promise unusually high or guaranteed returns without proper regulatory approval, stressing that such schemes often collapse once new investors stop joining.
Financial experts have advised members of the public to verify the registration status of any investment platform with the SEC before committing their funds and to avoid schemes that rely on referrals or unrealistic profit promises.
As of the time of filing this report, the operators of NRC had not issued any official statement regarding the reported collapse or the fate of investors' funds.
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