By our reporter 14.5.2026
Nigerians were left either sighing or weeping Thursday as news hit town XM Future Music Group an online investment platform has collapsed.
The group had lured Nigerians claiming that users could earn money by listening to songs on their platform and they would get paid. Users were required to pay “working deposit.” They also promise to make payments running into millions depending on the level of one’s investment.
They drew more users to themselves after claiming that they could multiply an investment of ₦21 million to generate ₦327 million in just one month.
But trouble started within the past 24 hours, when withdrawals suddenly stopped, support groups were deleted, and the platform became completely inaccessible — signs commonly associated with Ponzi schemes.
There were reactions from Nigerians on X.
@CAvul: “Please Nigeria I need help am scammed by one group call xm music something I put money and they money is not my own please Nigeria help me.”
@OlajimmySamuel: “XM FUTURE MUSIC just crashed. Another MLM scheme gone. The pressure to make money these days is really making people ignore clear signs. Knowledge is important.
“Some people even registered on Sunday. I warned my wife before she joined because I already knew how these things usually end. I warned some others too, but many people don’t listen until things crash.”
@placecallednotg: “XM future music has crashed all my millions.”
@BEazebuy: “Greed don turn people to looters again. XM Future Music na classic Ponzi, now office dey empty while investors dey cry. Make we learn abeg, nothing like “100% return in 30 days.” If e too sweet, e dey poison. Stay woke, no let them use music sweet your money commot. Ponzi end in tears always.”
@PaschalAme10755: “Is not easy to make money I lost 220000 thousand naira on XM music future platform I have being holding crypto for long time but no profit yet.”