Angry victims of the collapsed “XM Future Music Group” investment platform have reportedly looted the company’s office in the Apa area of Badagry after losing access to their funds.

Videos circulating online showed suspected investors and residents storming the abandoned office and carting away items, including generators, televisions, plastic chairs, fans, and other office equipment.

The incident followed reports that the online investment platform, popularly known as “XM,” allegedly crashed after users were unable to withdraw their money.

The scheme reportedly promised users massive returns through a model that claimed participants could earn money by listening to music and carrying out online tasks.

Entry packages were said to range from ₦21,600 to several million naira, with promises of unusually high profits within 30 days.

Footage from the Badagry office showed the premises largely emptied as crowds gathered to take remaining items after the operators allegedly disappeared.

The collapse has renewed concerns over the rise of Ponzi schemes and fraudulent online investment platforms in Nigeria, with many Nigerians calling for stronger regulation, public awareness campaigns, and tighter monitoring of suspicious investment operations.