NEWS
National Reading Culture (NRC) Platform Crashes, Thousands of Nigerians Lose Billions in Alleged Investment Scam
Thousands of Nigerians have been left counting their losses following the collapse of the National Reading Culture (NRC), a task-based “read-and-earn” digital platform that promised users daily income for reading online novels.
The platform, which attracted participants across the country with assurances of consistent returns, has reportedly shut down, leaving users unable to access or withdraw their funds.
Investigations indicate that the platform operated through a tiered VIP registration system, requiring users to make deposits ranging from ₦18,900 to ₦174,000 before gaining access to higher earning levels. Participants were then assigned simple daily reading tasks and promised substantial, guaranteed profits in return.
For many users, the scheme appeared to be a legitimate opportunity to earn passive income. Encouraged by the prospect of steady daily payouts, thousands reportedly invested significant sums, while others invited friends and family to join the platform.
The situation took a dramatic turn when the NRC website suddenly became inaccessible. Shortly afterward, operators of the platform reportedly disappeared, cutting off communication with members and making withdrawals impossible.
The collapse has sparked widespread outrage and despair among affected users, many of whom fear they have permanently lost their investments. Preliminary reports suggest that the total losses could amount to billions of naira, although the exact figure remains uncertain.
The incident has once again highlighted the growing risks associated with online investment schemes that promise unusually high and guaranteed returns, underscoring the need for Nigerians to exercise caution and verify the legitimacy of digital investment platforms before committing their money.