THOUSANDS OF PORT HARCOURT RESIDENTS CRY OUT AFTER ALLEGED NRC AND M-TAG PONZI SCHEME COLLAPSE

Thousands of residents of Port Harcourt have expressed frustration after allegedly losing millions of naira to investment platforms known as NRC and M-TAG, which many now describe as a Ponzi scheme.

Several victims who spoke to RwGBlog News narrated how they invested substantial amounts of money in the platforms after being promised high returns and attractive promotional bonuses.

One of the victims told RwGBlog News that he invested over ₦7 million after being assured that his capital would be returned while the company traded with its own bonus funds. He disclosed that the money belonged to a contribution group under his care and had not yet been distributed to its rightful owners.

Another resident, who said he did not invest in the scheme, criticized the growing trend of Nigerians investing in unrealistic ventures.

«"Nigerians never seem to learn. If another platform like this appears today, many people will still invest. How can someone promise to pay you ₦10,000 every day just for investing ₦100,000 and clicking a link? That is neither realistic nor sustainable. It is a scam," he said.»

As of the time of filing this report, the operators of NRC and M-TAG had not released any official statement regarding the situation. Users also reported that the platforms' websites were inaccessible and that all communication channels had been shut down, leaving investors unable to contact the operators.

RwGBlog News could not independently verify the total amount allegedly lost by investors, and the operators of the platforms were unavailable for comment at the time of publication.

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