Nigeria Ransom Economy: SBM Intelligence Reports N7.78 Billion Paid

• Kidnapping in Northern Nigeria has created a vast parallel economy where families negotiate, sell assets, and provide commodities to secure loved ones' release.
• SBM Intelligence reported 7,825 abductions across Nigeria between July 2025 and June 2026, with 7,334 victims from the northern regions, and an estimated N7.78 billion paid in ransom.
• Ransom demands often involve negotiations, as seen in the case of Justice Faruk Hassan Bunza whose N200 million demand was reduced to N50 million plus goods.
• Payments for freedom are not always monetary, with families providing items like motorcycles, food, fuel, and recharge cards to abductors.
• Despite payments, outcomes are unpredictable; some victims are killed, like Bashar Sani who died after his family paid N20 million and other items, while others face escalating demands or prolonged captivity.

The sheer scale of this crisis has been highlighted by recent research from SBM Intelligence.

Across Northern Nigeria, the act of kidnapping has evolved beyond a mere abduction, giving rise to a complex and pervasive parallel economy. Once a loved one is seized, families are thrust into a desperate cycle of negotiation, often involving the sale of property, extensive borrowing, and community fundraising efforts. This illicit system transforms victims into valuable assets for their captors, while every family possession capable of being converted into cash or commodities becomes a potential price for survival.

This phenomenon is deeply entrenched across states like Kebbi, Zamfara, Kwara, Sokoto, Borno, and Kaduna, where the payment of ransom has become an integral, albeit tragic, part of the kidnapping crisis. The outcomes for families are highly unpredictable: some secure release after paying millions of naira, while others face escalating demands. Tragically, some victims are killed despite ransom payments, while a fortunate few are rescued by security forces before any money changes hands. This volatile environment has fostered an expanding economy built entirely around human captivity.

The sheer scale of this crisis has been highlighted by recent research from SBM Intelligence. Their findings indicate that a staggering 7,825 individuals were abducted across Nigeria between July 2025 and June 2026. A significant majority of these incidents, totaling 7,334 victims, occurred within the three northern geopolitical zones. During this same period, SBM Intelligence estimated that approximately N7.78 billion was actually paid out in ransom, underscoring the immense financial burden and the lucrative nature of this illicit trade.

The negotiation process for a victim's freedom often mirrors a commercial transaction, with the price of a human life being haggled over. A notable instance of this occurred in Kebbi State with the abduction of High Court Justice Faruk Hassan Bunza. He was taken from his residence on Zogirma Road in Bunza Local Government Area on July 26, shortly after returning from Sokoto. Initially, his captors demanded N200 million, but following negotiations, this sum was reduced to N50 million.

Justice Bunza was ultimately released on August 3, after approximately nine days in captivity. A family member confirmed that N50 million was paid for his release, along with additional items such as soft drinks and biscuits. This transaction, like many others, occurred outside the formal financial system. The police, however, maintained their official stance of not supporting ransom payments. The judge later recounted being held at Dutsen Bandan, a hill located behind the NYSC permanent orientation camp in Dakin Gari, Suru Local Government Area, roughly 49 kilometers from his hometown, where he encountered other abductees.

Despite the immense sacrifices made by families, paying ransom offers no guarantee of a safe return, and in some tragic cases, can lead to further demands or even death. The brutal reality of this Nigeria ransom economy was starkly illustrated by the case of Bashar Sani, a senior administrator at the College of Education, Maru, in Zamfara State. He was abducted along with his wife and other women, and his family reportedly paid N20 million, three motorcycles, and N150,000 worth of recharge cards for his release. However, this payment did not secure his survival; Sani spent 42 days in captivity before ultimately being killed.

Source: Original reporting via Arewa PUNCH