Market News
Nigerian gunmen raise over $5 million from mass kidnappings, study finds
Summary
- Boko Haram faction got over $5 million, SBM estimates
- Researchers say 7,825 people kidnapped in year ending June 2026
- President ordered forces to rescue civilians seized in Niger State
Kidnappers in Nigeria collected nearly $5.8 million in ransom payments from civilian abductions over the past year, according to security consultancy SBM Intelligence, highlighting the growing economic and social impact of the country's security crisis.
Kidnappings Rise 66%
SBM Intelligence reported that 7,825 people were kidnapped between July 2025 and June 2026, representing a 66% increase from the previous year.
At least 1,142 people were killed in connection with kidnapping incidents during the period.
Confirmed ransom payments more than tripled to approximately N7.78 billion ($5.79 million).
SBM said the true amount is probably higher because many ransom payments are never publicly disclosed.
