Nigeria’s Kidnapping Crisis: Ransom Demands Reach ₦10.99 billion in One Year- SBI

Kidnappers in Nigeria demanded approximately ₦10.99 billion in ransom between July 2023 and June 2024. This is according to a report published by SBM Intelligence on Wednesday. During the stated period, over 7,500 people were abducted across the country, and ₦1.048 billion was eventually paid to secure their release.

States like Zamfara, Kaduna, and Katsina have been hit hardest, with the highest number of incidents and victims. This wave of abductions has also become more deadly, with 1,056 people killed during the reported kidnappings.

Kidnapping for ransom has become a common crime in Nigeria, fueled by the country’s worsening economic conditions. As fewer wealthy targets are available, kidnappers are now targeting a more comprehensive range of victims. This has led to high ransom demands often being negotiated down or crowd-funded. The report also noted a growing trend of mass abductions and increasing violence, with more than 1,000 deaths linked to these crimes.

A notable feature of this year’s kidnapping incidents is the prevalence of mass abductions – kidnap events in which at least five people are abducted – particularly in the North. 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, the report added.

Women are more frequently targeted than men, and in some cases, kidnappers are even demanding in-kind payments, such as food, drinks, and motorcycles, instead of cash.

The Federal Capital Territory (FCT) had the highest ransom demands, followed by Lagos and Kaduna. However, the Southeast saw the highest amounts paid in ransom.

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