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Home Economy Finance

₦2.23tn Paid in Ransom to Kidnappers by Nigerians in Just One Year– NBS

by Destiny Eseaga
December 19, 2024
in Finance
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The National Bureau of Statistics (NBS) reports that Nigerians paid ₦2.23 trillion in ransom to kidnappers over twelve months.

The NBS noted that these payments occurred between May 2023 and April 2024.

According to the NBS’s latest Crime Experience and Security Perception Survey report published on Tuesday, 65 per cent of households affected by kidnapping paid ransoms for the release of their loved ones from the abductors’ den.

“The average amount paid as ransom was ₦2,670,693, with an estimated total ransom of ₦2,231,772,563,507 paid within the reference period,” the NBS report read.

It said kidnapping incidence was estimated at 2,235,954 nationally with results showing that rural areas (1,668,104) recorded more kidnappings than urban areas (567,850).

“Further analysis by zones revealed that North-West had the highest cases (1,420,307), followed by North-Central (317,837), while the least was recorded in South-East (110,432),” it said.

Of the households that experienced kidnapping, the survey indicated that 80.5 reported it to the police.

“The South-South zone had the highest reporting rate at 100 percent, followed by North-Central at 89.6 percent, while North-West was least reported at 73.9 percent,” the report noted. “Disaggregated by place of residence, urban areas recorded 87.1 percent compared to 77.3 percent in rural areas.”

A further analysis of the report showed that some of the abducted persons were killed, while others were released.

It showed that of the reported cases of kidnapping, 82.1 percent  were released,

12.8 percent were killed and 3.3 percent were still in captivity.

Motivated By Money, Others

A general view of a classroom at Kuriga school in Kuriga on March 8, 2024, where more than 250 pupils were kidnapped by gunmen. (Photo by Haidar Umar / AFP)

The study indicated that “About 91 percent of kidnapping incidents were done for ransom in the form of money, goods, or other benefits.

“Also, 2.4 percent of cases were attributed to political, criminal, or terrorist objectives, while 2.1 percent were linked to personal or family disputes. Custody disputes accounted for 0.5 percent of cases”.

On the overall crime rate in Nigeria, the NBS survey suggested that North-West region had the highest incidence of crime. There were 14.4 million reported cases in the region. This was followed by the North-Central region with 8.8 million.

However, the South-East region recorded the lowest number of reported crimes, with 6.18 million incidents in the period under review.

Stories about abductions are rife in some parts of Nigeria. From mass abductions in schools to the killing of abductees, the crime seems to have become a business venture for gangs.

Despite government and security agency reassurance, experts believe the situation has not been minimally reduced.

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Author

  • Destiny Eseaga

    My name is Destiny Eseaga, a communication strategist, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader world context. My passion lies in the world of finance, particularly, capital markets, investment banking, market intelligence, etc

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Destiny Eseaga

Destiny Eseaga

My name is Destiny Eseaga, a communication strategist, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader world context. My passion lies in the world of finance, particularly, capital markets, investment banking, market intelligence, etc

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