Report by SB Morgan Intelligence has indicated that bandits and other criminals had collected over a billion naira cost of ransom paid by Nigerians within one year 2023 and 2024.
The payment which was made majorly by the family members was perfected between June 2023 and July 2024.
According to the report, the demand from different bandit groups to family members of those abducted in Nigeria was put at N10.9 billion naira.
It says the family did negotiate the price; hence they cannot afford the award of the amount award on them which is put at One billion and Forty million naira.
SBM also reported that between same period under review, 7,568 people have been abducted in about 1,130 abduction cases reported.
SBM Intelligence is an Africa-focused market/security intel gathering and strategic consulting firm.
It reported that Nigeria, which is the largest economy in Africa with a population of over 200 million people, is battling with deadly insecurity emanating from various criminal groups.
It also described the activities of Boko Haram in the North East, bandits and other militant groups in the West and North Central to be responsible for the increasing spates of kidnapping and abduction in Nigeria.
It also attributed the insecurity challenges facing the country to high rate of criminalities emanating from proliferation of illegal weapons in the hand of the unauthorized people.
