Criminal groups operating in Nigeria collected nearly US$6 million in ransom payments over the past year, according to a recent report, with Boko Haram kidnappings accounting for the majority of the funds. The report, compiled by Lagos-based consultancy SBM Intelligence, indicates that from July 2025 to June 2026, approximately 7.78 billion naira (around US$5.8 million) was paid in ransom.

Kidnappings have increasingly become a lucrative source of revenue for criminal networks in Nigeria, Africa’s most populous country. During the 12-month period, at least 7,825 people were abducted, representing a 66% increase compared to the previous year. The rise is attributed largely to two mass abduction events carried out by the Boko Haram insurgent group, which were responsible for nearly 90% of the ransom payments.

SBM Intelligence noted that the figure might underrepresent the true extent of ransom transactions, as many victims or their families are reluctant to disclose payments due to their illegal status under Nigerian law.

This surge in kidnappings and ransom payments reflects a broader security challenge facing Nigeria, where criminal and insurgent groups exploit vulnerabilities to generate significant revenue through abduction. Authorities have struggled to contain the problem, which continues to impact both civilians and businesses across various regions of the country.