Boko Haram Faction Takes 90% of Nigeria’s Ransom Payments in One Year – SBM

A faction of Boko Haram has emerged as the dominant player in Nigeria’s kidnapping economy, accounting for about 90 per cent of all ransom payments made across the country in the 12 months to June 2026, according to a new report by SBM Intelligence.

The report, titled “The Capture of Nigeria’s Kidnap Economy,” covers the period from July 2025 to June 2026 and found that Jama’atu Ahlis Sunna Lidda’awati Wal-Jihad (JAS) collected about N7 billion in ransom from just eight kidnapping incidents.

The figure is nearly 10 times the amount collected by all bandit groups and independent kidnappers combined during the same period.

SBM Intelligence said kidnappers across Nigeria collected N7.78 billion in ransom during the period, representing a sharp increase from the N2.56 billion recorded in the previous cycle.

However, the total amount demanded by kidnappers fell significantly, from N48 billion to N22.86 billion, a 52 per cent decline.

“The economics have inverted. Demands are falling, but payouts are rising because one group now dominates the market,” SBM said.

Mass abductions driving ransom payments

The report identified a major shift towards mass abductions, with 7,825 people abducted in 1,713 kidnapping and related incidents between July 2025 and June 2026.

The number of victims represents a 66 per cent increase compared with the previous period.

At least 1,142 people were killed, including 895 civilians.

Mass abductions accounted for 79.5 per cent of all victims, with two major incidents contributing significantly to the total ransom collected during the year.

SBM identified the payment of N5 billion for 416 captives abducted in Ngoshe, Borno State, and N2 billion for 315 pupils and staff as the two biggest ransom payments recorded.

By comparison, bandit groups collected approximately N719 million from 146 incidents.

“JAS collected more from eight incidents than all bandits did from 146 incidents,” the report stated.

The ransom collection rate also increased sharply, rising from 5.35 per cent to 34 per cent during the period under review.

North accounted for 93.7% of victims

Northern Nigeria remained the epicentre of the country’s kidnapping crisis, accounting for 93.7 per cent of all abduction victims.

SBM recorded 7,334 victims in the region out of the national total of 7,825.

The five states with the highest number of reported kidnapping victims were:

Zamfara – 2,000 victims
Sokoto – 1,921 victims
Kaduna – 1,157 victims
Katsina – 814 victims
Kwara – 559 victims

The report also warned that paying ransom does not necessarily guarantee the safe release of victims.

At least six victims were killed even after ransom had been paid, highlighting the risks faced by abductees and their families.

Kidnapping economy becoming more organised

SBM Intelligence said the findings point to a fundamental change in Nigeria’s kidnapping landscape.

Rather than remaining a fragmented criminal enterprise dominated by independent kidnappers and bandit groups, the sector is increasingly being driven by terrorist organisations capable of carrying out and monetising mass abductions on a much larger scale.

The think tank described the development as “the capture of the kidnap economy at the top”, with one group increasingly capable of planning, executing and profiting from large-scale abductions.

The findings are likely to intensify pressure on the Federal Government and security agencies to address the country’s worsening insecurity, particularly as families and communities continue to bear the financial and human cost of kidnapping.

According to SBM, its figures were compiled from the SBM Intel Violence Tracker and verified media reports, with data current as of June 30, 2026.

Key figures from the SBM report
7,825 people abducted
1,713 kidnapping and related incidents
1,142 people killed
895 civilians killed
N22.86bn ransom demanded
N7.78bn ransom paid
34% ransom collection rate
N7bn collected by JAS from eight incidents
90% of ransom payments attributed to JAS
N719m collected by bandits from 146 incidents
79.5% of victims were abducted in mass kidnapping incidents
93.7% of victims came from northern Nigeria