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 recent report by a Lagos-based security and political risk research organisation.
The report titled “The Economics of Nigeria’s Kidnap Industry,” produced by SBM intelligence, also stated that the armed men killed 570 people within the period.
The report described how security concerns in Nigeria have spread to all six geopolitical zones and how the plan of abduction for ransom has replaced other motives for kidnapping due to Nigeria’s troubled economy, growing inflation, and high unemployment rates.
According to the study released last week, 582 kidnapping-related occurrences resulted in the abduction of 3,620 people in Nigeria.
It said that of the N5 billion demanded as ransom ($6,410,256) as of June 30, 2023, confirmed fingers only revealed N302 million ($387,179), or six per cent.
“However, this…