Residents across parts of Ibarapa were thrown into confusion and panic on Wednesday, May 13, 2026 following reports that XMusic allegedly accrued over N71 billion in its custodial accounts, sparking fear among thousands of subscribers and coordinators linked to the platform in the region and beyond who have been unable to access their individual accounts.
The development reportedly triggered tension the early hours of Wednesday in Igbo-Ora, where angry subscribers and investors stormed the head office of the organisation at the premises of Baptist Church, Pako, Area, Igbo-Ora.
Eyewitnesses claimed that parts of the office were vandalized as frustrated individuals demanded explanations over the sudden development and uncertainty surrounding their investments.
Several residents who spoke with Peoples Conscience described the situation as chaotic, with many families lamenting heavy financial losses. Markets, motor parks and public gathering spots across the area were filled with discussions about the incident, as worried subscribers continued to seek updates from local representatives of the scheme.
Community sources alleged that a good number of investors borrowed huge sums of money, in some cases as high as N10 million to N20 million, to participate in the initiative. Others were also said to have sold personal properties including lands, cars, motorcycles and household valuables in the hope of getting quick financial returns from the business.
Sources within the community also alleged that many coordinators and top representatives of the initiative are currently nowhere to be found, with some reportedly going into hiding following mounting pressure from subscribers. It was gathered by this news agency that several coordinators allegedly managed investments and liabilities estimated between N9 million and N12 million.
Peoples Conscience gathered from sources who spoke on the condition of anonymity that Igbo-Ora and its environs had become unusually quiet following the development, with many residents appearing devastated as though they had lost loved ones. Some affected individuals were also reportedly hospitalised after allegedly suffering emotional distress linked to the situation.
Residents claimed that officials and promoters of XMusic allegedly penetrated deep into the community by working through influential personalities and respected individuals including religious and traditional leaders, a move many believe gave the business an appearance of legitimacy and public trust. The alleged involvement and endorsements from familiar faces reportedly encouraged more residents to join the platform without suspicion.
Some subscribers also alleged that regular awareness campaigns, public gatherings and promotional activities organised in various parts of Igbo-Ora made the initiative appear credible to many unsuspecting residents.
According to locals, the organisers allegedly presented the business as a reliable financial opportunity, leading to widespread participation across several communities.
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