Nigeria's Kidnap Economy Hits N7.78 Billion as Boko Haram Dominates Ransom Market

A new SBM Intelligence report reveals Nigerians paid at least N7.78 billion in ransom to kidnappers between July 2025 and June 2026, as abductions surged 66% year-on-year to 7,825 victims. Boko Haram's faction captured 90% of all ransom payments, collecting N7.0015 billion from just eight cases, while unaffiliated kidnappers and bandits saw a meager 5.3% collection rate. The report, titled "The Capture of Nigeria's Kidnap Economy," documents a grim...