The Digest:
A new report by SB Morgen (SBM) Intelligence has revealed the staggering financial scale of Nigeria’s kidnapping crisis. According to the report, Nigerians paid over N2.57 billion in ransom in one year, cementing what the firm calls the Ransom Economy, a lucrative criminal enterprise fueled by a failing system.
Key Points:
- Nigerians paid N2.57 billion in ransom between July 2024 and June 2025.
- Kidnappers demanded over N48 billion from victims' families.
- The report documented 4,722 abductions and 762 deaths.
- Zamfara, Kaduna, and Katsina recorded the highest number of victims.
- A single incident in Delta State accounted for over 62% of demands.
- The study links the rise in kidnappings to economic hardship.
- The report warns that the cycle of violence will continue unchecked.
Sources: TheCable
