A report by SB Morgen (SBM) Intelligence, a geopolitical research firm, reveals that kidnappers demanded over ₦10.9 billion from victims and their families between June 2023 and July 2024, with Nigerians paying ₦1bn out of this amount in ransoms to kidnappers and terrorists during the one-year period.
SB Morgen (SBM) Intelligence, in its report titled ‘Economics of Nigeria’s Kidnap Industry,’ revealed that between June 2023 and July 2024, kidnappers demanded ₦10.9 billion in ransom but received only ₦1 billion, with 7,568 people abducted in 1,130 incidents nationwide.
The report states that “Nigeria’s security crisis has become increasingly complex, with armed groups and non-state actors exploiting the state’s weakened influence,” citing the resurgence of Boko Haram in the Northeast, armed gangs in the Northcentral and Northwest, secessionist violence in the Southeast, and gang-related issues in the Southwest.
“Amid these diverse security threats, widespread kidnap for ransom has emerged as a common thread.
“Between July 2023 and June 2024, our research found that no fewer than 7,568 people were abducted in 1,130 incidents across the country.
“In that same period, kidnappers demanded at least the sum of N10,995,090,000 (approximately $6,871,931) as ransom but received N1,048,110,000, a mere 9.5% of the money demanded, indicating that kidnappers have become less targeted in their victimology.”
Giving state analysis, the research firm said of the 1,130 reported kidnapping cases, Zamfara, Kaduna, and Katsina had the highest numbers of incidents and victims.
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“Zamfara recorded 132 incidents with 1,639 victims, Kaduna had 113 incidents with 1,113 victims, and Katsina reported 119 incidents with 887 victims,” SBM Intelligence added.
“These three states also have the highest number of civilian deaths.
“More than four ransom bearers have been killed, and three others abducted this year, and if this trend persists, it may get more challenging to find people eager or willing to deliver ransoms on behalf of victims,” the report added.
SBM said this year, kidnapping incidents are the prevalence of mass abductions — kidnap events in which at least five people are abducted –particularly in the north.
The firm said from January to June, there have been 135 mass abduction incidents involving at least five victims per incident, with 3,277 people kidnapped and 125 killed.
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