A recent report by SBM Intelligence has revealed that Nigerians paid a staggering N1.048 billion as ransom to kidnappers between July 2023 and June 2024.
During this period, a total of 7,568 people were abducted across the country.
SBM Intelligence, a leading geopolitical research consultancy in Nigeria, highlighted the alarming rise in kidnapping for ransom in its report titled “Grim Reaping.”
The report noted that, despite kidnappers demanding a total of N11 billion in ransom, only N1.048 billion was actually paid.
The report also shed light on the broader security challenges facing Nigeria, including the resurgence of Boko Haram in the North East, armed gangs in the North Central and North West, secessionist violence in the South East, and gang-related issues in the South West.
It emphasized that kidnapping for ransom has become a pervasive threat, driven in part by economic stagnation.
According to the report, “Also, between July 2023 and June 2024, our research uncovered that at least 7,568 individuals were abducted in 1,130 incidents across Nigeria.
“The states of Zamfara, Kaduna, and Katsina reported the highest numbers of both incidents and victims. Zamfara experienced 132 incidents with 1,639 victims, Kaduna had 113 incidents involving 1,113 victims and Katsina recorded 119 incidents with 887 victims.”
The report further detailed that the Federal Capital Territory (FCT) recorded the highest ransom demands, with Lagos and Kaduna close behind.
The South East led in both the amount of ransom paid and the rate of successful collections.
It also highlighted a disturbing trend of kidnappers demanding in-kind payments, such as food, drinks, and motorcycles, depending on the region.
“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,” the report revealed.
Gombe reported the lowest number of incidents with just one case, followed by Jigawa with two cases, Bayelsa with three, Kano with four, and Osun with six cases.
In response to the report, a retired director of the Department of State Services (DSS), Mike Ejiofor, described the development as “dangerous for Nigeria’s economy.”
He called for urgent action, including a declaration of a state of emergency on insecurity, proper management of Nigeria’s land borders, and increased citizen participation in tackling the issue.
“It is painful and a disgrace for any government to admit it is paying ransom. It is an abnormality we are going to live with for some time. We need to invest more and restructure our intelligence architecture,” Ejiofor stated.
