The victims in petitions to the police, the Economic and Financial Crimes Commission (EFCC), Department of State Services (DSS) and other regulatory agencies, and interview with SaharaReporters, accused the promoters of the platform, including one Dr. Mbang Edet Eta, of obtaining money under false pretences through what they described as a cyber-enabled investment scheme that allegedly collapsed after collecting several hundreds of millions of naira from unsuspecting members of the public.
Dozens of Nigerians have raised an alarm over alleged fraudulent activities of an online investment platform identified as X Future Music Nigeria Limited, also known as XFMusic-Nigeria.com.
The victims in petitions to the police, the Economic and Financial Crimes Commission (EFCC), Department of State Services (DSS) and other regulatory agencies, and interview with SaharaReporters, accused the promoters of the platform, including one Dr. Mbang Edet Eta, of obtaining money under false pretences through what they described as a cyber-enabled investment scheme that allegedly collapsed after collecting several hundreds of millions of naira from unsuspecting members of the public.
In separate petition addressed to the Lagos State Police Command, the complainants alleged that the company operated aggressively on social media platforms, including Facebook, Instagram, WhatsApp and Telegram, promising users substantial returns for listening to music, streaming songs and referring new users to the platform.
