Kidnappers demand ₦48bn, abduct 4,722 in one year - SBM Intelligence A new report reveals that Nigeria's insecurity crisis has created a "ransom economy," with kidnap-for-ransom operations now a structured, profit-driven industry. The report by SBM Intelligence covers the period from July 2024 to June 2025 and shows that at least 4,722 people were abducted in 997 incidents nationwide. Kidnappers demanded nearly ₦48 billion in ransom and received confirmed payments of ₦2.57 billion ($1.66 million). The think tank warns that ransom payments are hurting household incomes, damaging business confidence, raising costs, and...