In Nigeria, armed groups kidnapped at least 3,620 persons between July 2022 and June 2023, with a ransom of N5 billion demanded, according to a report by an Africa-focused geopolitical risk research organisation, SBM Intelligence, released yesterday.
The number is more than the 3,420 people kidnapped between the period of July 2021 and June 2022. According to the report, titled ‘The Economics of Nigeria’s Kidnap Industry’, at least, N5 billion was reported as ransom demand, while verified ransom payouts amounted to N302 million , a figure potentially underestimated due to underreporting.
It added that rising kidnap incidents show the industry’s profitability outweighs perceived threat of state intervention and police rescues. SBM also revealed that the North Central region recorded higher ransom amounts, notably in Nasarawa State, where targeted abductions yielded maximum ransoms with minimal resistance.
Borno reported minimal deaths, and across the country, civilians bore the brunt, with 430 fatalities, while security agents and kidnappers themselves accounted for 19 and 121 deaths, respectively.
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