Every day, thousands of Nigerians search for new ways to earn extra income or grow their savings. For many, online investment platforms promise quick returns with little effort. But while some appear to deliver at first, many eventually collapse, leaving investors counting their losses.

The latest platform to spark concern is National Reading Culture, popularly known as NRC. Reports from users who say they can no longer access their funds have reignited questions about the recurring cycle of online investment schemes that end in heartbreak.

So, why do Nigerians continue to invest in platforms that promise extraordinary returns despite repeated warnings from regulators? What lessons should investors learn from the latest collapse? And what can be done to prevent more people from falling victim?

Hello! This is Nigeria Daily, brought to you by Media Trust. I am Luqman Awwal Agono.

Today, we examine the reported collapse of NRC, hear from affected investors who agreed to share their experiences anonymously, listen to what Nigerians think about online investment platforms, and speak with a financial expert on how to identify and avoid Ponzi schemes.