Nigerian gunmen raise over $5 million from mass kidnappings, study finds

Nigerian kidnappers collected more than 7.78 billion naira (about $5.79 million) in confirmed ransom payments over the past year, according to SBM Intelligence. The security consultancy said 7,825 people were kidnapped between July 2025 and June 2026, up 66% from the previous year, and at least 1,142 people were killed. SBM warned its figures are conservative because many ransoms were never disclosed. It found a Boko Haram faction accounted for 90% of recorded northeast ransom proceeds, while the northwest saw more incidents and victims. The findings were released after Nigeria’s president ordered rescue efforts for up to 600 kidnapped civilians in Niger State.